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Forex: EUR/USD in session highs, eyes 1.3460

The single currency is gathering traction on Tuesday, leaving behind Monday’s highs and eyeing 1.3460 after a bout of buying interest pushed the cross more than 50 pips from sub 1.3400 levels.

The bull run came right after the SNB’s Jordan emphasized that extra measures are unnecessary at the moment, thus decoupling the peg from any ‘currency wars’ by affirming that the SNB has done what the alpine economy needed at that time.

At the moment, the cross is advancing 0.37% at 1.3455 facing the next resistance at 1.3462 (low Feb.5) ahead of 1.3494 (MA10d) and then 1.3577 (high Feb.7).
On the flip side, a breach of 1.3360 (low Feb.12) would target 1.3325 (low Feb.11) and finally 1.3300 (psychological level).

G7 statement reiterates opposition to currency manipulation

Following several weeks of back and forth monetary easing and tinkering that has seemingly roiled currency markets, the G7 recently issued a statement regarding the bourgeoning currency weakness, known colloquially as the "currency war."
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