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EURUSD : Adding Gains But Seems Limited

EUR today strengthened against US dollar but the gains were capped by the previous resistance at 1.3821. Also we know that the European Central Bank showed some concern over the strength of single currency. Euro zone inflation has added pressure on the policymakers to implement some stimulus measures as inflation is being below 1% for 6 straight months. One of an ECB executive board member Benoit Coeure today said that bank can still cut the key interest rates. 

The pair might break the current resistance at 1.3821 to rise up to 1.3830. However if not, it might decline to 1.3803 or 1.3786.