FXStreet (Córdoba) – EUR/USD peaked during the American session at 1.1274 and then pulled back modestly only to rise back toward the highs. Currently is testing the high as it trades around 1.1270, holding a bullish tone.
EUR/USD: This time is different?
The pair did not rise above the highs of the previous two trading days but the difference is that today it is keeping gains and is holding above the daily 20-SMA.
EUR/USD reached levels above 1.1250 in most of the days of the last two weeks but for the first time it could post a daily high on top of the mentioned level on the back of a weak US dollar across the board.
The euro rose versus the US dollar but lost ground against the Swiss franc and remains unchanged versus the pound. Greenback and the yen are falling across the board in the currency market.
A daily close above 1.1250 could give support to EUR/USD to move higher. Above 1.1300, the next resistance could be located at 1.1320/25 and 1.1360.
(Market News Provided by FXstreet)