EURO MOVES TO HIGHEST LEVEL SINCE JUNE 2016
During the European session, the shared currency moved to it's highest level since June 2016, hitting an intraday price of 1.1435, with the pair now gaining over two percent for the trading week.
At present, the EURUSD is making a corrective move below the 1.1400 figure, after the much extended up move to 1.1435. The pair now looks to flash CPI figures from Germany and the eurozone, then we see the release of U.S first quarter GDP during the U.S session.
The EURUSD remains bullish in the short term whilst the pair trades above the 1.1360 region.
The H1 time frame 100 period moving average is now converging with the M30 timeframe 50 period moving average, at 1.1360, offering strong short term support.
To the upside, EURUSD resistance above the current monthly high at 1.1435 is found at 1.1455-58, and the psychological 1.1500 level.