On the fundamental front, Dow Jones is now reporting that the San Francisco Fed Chief Williams just reiterated that he sees further scope for more bond buying, and that a scaling back of purchases would be counterproductive.
â€œRegardless the Greek chaos, the pairâ€™s trend continues to be bullish at least in the short term,â€ says Valeria Bednarik, chief analyst at FXstreet.com. â€œMain risk factor in current Asian session, is Chinese manufacturing PMI: a positive reading may boost sentiment and push dollar one step lower against European rivals.â€
If EUR/USD continues to trend upward in the global day ahead, a push above 1.29 could then target resistance at 1.2975 (Feb 16 low), while the analyst identifies bearish targets at 1.2800, 1.2770 and 1.2745.
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