EURO STRONGLY BULLISH ABOVE 1.1860 LEVEL
The euro continues to move higher against the U.S dollar, with price-action so far finding interim weekly resistance at the 1.1900 level. The recent fall in the Japanese yen currency on the back of falling bond prices, is helping to underpin overall euro sentiment, with the EURJPY pair benefitting the most. The EURUSD currently trades around the 1.1870 level, with buyers well in control above the 1.1860 support level. Traders now await the release of weekly jobs, wage inflation and third quarter Gross Domestic Product figures from the United States economy.
The EURUSD remains strongly bullish while trading above the 1.1860 support level, buyers may now target towards the 1.1900 and 1.1940 technical resistance levels.
Should the EURUSD pair start to decline below the 1.1860 technical level, sellers may push price-action towards the 1.1845 and 1.1813 support levels.