According to technical charts prepared by the Bank of Tokyo-Mitsubishi UFJ Ltd., the euro could rise to a 15-month high of $1.5285 if it manages to break the resistance line at $1.5063. Resistance at $1.5063 represents the Oct. 26 high, which the currency will probably strengthen toward in the next two weeks, said Masashi Hashimoto, a senior analyst in Tokyo at the unit of JapanÃ¢â‚¬â„¢s biggest publicly traded bank. The euroÃ¢â‚¬â„¢s close last week above the four-week moving average of $1.4869 and the rising trend in other indicators such as the 13-week moving average signal the euro may gain further, Hashimoto said.
Ã¢â‚¬Å“Positive signals are outweighing negative ones when you compare them at this moment,Ã¢â‚¬Â Hashimoto said in a Bloomberg interview. Ã¢â‚¬Å“Hence, the euro is likely to go up.Ã¢â‚¬Â
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