EURO STRONGLY BULLISH ABOVE 1.1800 LEVEL
The euro has continued to move higher against the U.S dollar during the European trading session, hitting 1.1852, as the flight away from U.S dollars and into euros heightens. The EURUSD pair has pulled back marginally, with price-action currently trading around the 1.1840 level, as traders start to book intraday profits. Broad-based U.S dollar weakness has accelerated the euros rise, as the U.S dollar index breaks below long-term technical support. Traders and investors now await the releases of key macro-economic data from the United States economy.
Should the EURUSD pair continue to trade above the 1.1800 level, further upside towards the 1.1876 and 1.1910 levels remains likely.
Should price-action decline below the 1.1800 level, euro sellers will likely move to re-test the 1.1784 and 1.1710 technical support regions.