- EUR / USD keeps purchase interest close to 1.1170.
- Daily rise of the pair with a resistance close to 1.1190.
- The generalized sense of risk strengthens the upward mood of the pair.
Another session, another increase in EUR / USD. In fact, the pair has climbed into the area just below 1.1200, successfully managing to record new 3-month highs.
EUR / USD nears 1,1200
EUR / USD has posted gains over the past six sessions, thanks to the renewed and fairly strong resurgence of sales bias around the dollar.
Indeed, investor appetite for riskier assets has increased pari passu with the growing hope of a faster than expected return to some kind of normalcy in the economies on both sides of the Atlantic. On this issue, the ECB should give an extra boost to this week’s event (Thursday).
Now, growing civil strife in the United States remains at the center of the scene, while market participants continue to take into account the likelihood that President Trump can send the military to quell the protests.
What to look for around the EUR
EUR / USD flirts with the key resistance area around 1.1200 in the first half of the week. As usual, the dynamics of the USD and the excitement of US-Chinese trade continue to fuel sentiment in world markets, while the pair’s additional oxygen also comes from the gradual return to economic normalcy in Europe and recent news of an aid package proposed by the European Commission. The continued support for the euro is also due to the solidity of the region’s current account.
EUR / USD levels to watch
Currently, the pair is up 0.35% to 1.1173 and a break above 1.1187 (weekly / monthly high on June 2) would target 1.1186 (61.8% Fibo from rally 2017 -2018) en route to 1.1239 (December 31 high). 2019). In contrast, the immediate controversy emerged at 1.1010 (200-day SMA), followed by 1.0897 (55-day SMA) and finally 1.0870 (weekly trough on May 26).