Forex: EUR/USD at 11-month highs, with 1.3485 in sight (Córdoba) - The euro continues to outperform its rivals on Friday as sentiment was lifted after the ECB said 278 banks in the region would repay a total of €137 billion of the initial 3yr LTRO loan. Against the greenback, the euro broke decisively above the 1.3400 mark and reached an 11-month high of 1.3463 before easing a tad.

With the subsequent setback being contained by the 1.3410 area, EUR/USD is back headed north approaching recent highs and with 1.3485 in sight, its 2012 peak. At time of writing, EUR/USD is trading around 1.3455, recording a 0.6% daily gain.

"4 hours chart shows technical readings heading north in positive territory, and price consolidating around the highs: as long as above 1.3400, the upside is exposed towards next bullish target, 1.3485 past 2012 yearly high", says Valeria Bednarik, chief analyst at "Below 1.3360/70 area, the short term outlook may turn negative, with scope then to retest the 1.3320 price zone".

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