EURO STRONGLY BULLISH ABOVE 1.1959
The euro has moved to its highest trading level against the U.S dollar since September, hitting 1.1990 during the European trading session. The greenback has come under intense year-end selling pressure, with the EURUSD pair now approaching the psychological 1.2000 level, with well-defined technical resistance above at the key 1.2030 region. Traders have continued to sell the U.S dollar index on Friday, after it broke below its 20-period moving average on an historical 10-year basis.
The EURUSD is strongly bullish while trading above the November price-high, found at the 1.1959 level. Buyers may now target towards the key 1.2000 and 1.2033 resistance levels.
Should the EURUSD pair move below the 1.1959 support level, further selling towards the 1.1910 technical support region remains possible.