EURO STRONGLY BULLISH ABOVE 1.1910
The euro has broken above the 1.1900 level against the U.S dollar, hitting 1.1932 during early Thursday trading. The U.S dollar index has now fallen to a four-week trading low, as selling accelerated in greenback due to a dip in U.S. 10-year bond yields. The EURUSD pair now trades close to weekly price-highs, with the 1.1948 level the next major technical hurdle, ahead of the psychological 1.2000 level. With a lack of macro-economic data during the European trading session, traders with look to the key technical levels and upcoming U.S data later today.
The EURUSD remains strongly bullish while trading above the 1.1910 level, buyers may not target the 1.1948 and 1.2000 resistance levels.
Should the EURUSD pair move below the 1.1910 level, we may see a decline back towards the 1.1880 and 1.1860 support levels.