The euro rose to 18-month highs after EU leaders agreed their stimulus package and a broad risk rally saw the bulk of dollar crosses achieve long-awaited technical breakouts. EURUSD has broken out above 1.15, the key March swing high resistance, with the next target in sight for bulls at 1.1570, the January 2019 peak. Three consecutive daily gains show strong momentum with the bulls. The pair needs to hold onto this 1.15 to move up into the 1.1760 area around the long-term 38.2 per cent Fibonacci retrace.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis