Euro breaks above resistance, hits 14-month high

NEW YORK Tue Jan 29, 2013 8:18pm IST

NEW YORK Jan 29 (Reuters) - The euro extended gains versus the dollar on Tuesday, breaking above key resistance to hit a 14-month high.

The euro rose as high as $1.3490 according to Reuters data, the highest since Dec. 2, 2011. It was last at $1.3481, up 0.2 percent on the day.

It rose above major resistance at $1.3486, its 2012 high. Next key targets include $1.3492, the 50 percent retracement from the high in May 2011 to the low in July 2012 and the psychologically important $1.35 level, traders said.

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