Filed Under:
Forex pairs in this Article » EUR/USD (Edinburgh) - The bloc currency keeps pushing higher on Monday, lifting the EUR/USD to fresh highs beyond 1.3050 after Spanish and Italian manufacturing PMI surprised investors to the upside.

EUR/USD bullish momentum sharpens

The pair is accelerating its intraday upside after finding good support around the psychological level at 1.3000 overnight, with the manufacturing PMI prints taking centre stage during the European morning. “. If the EUR sell-off does extend through daily congestion support at 1.2960/65, look for a quick-ish test of the 1.28 area—weekly trend/Head & Shoulder neckline. Weekly resistance is distant at 1.3415/70”, assessed S.Osborne and G.Moore, FX Strategists at TD Securities.

EUR/USD critical levels

At the moment the pair is up 0.27% at 1.3049 with the next hurdle at 1.3103 (high Jun.28) ahead of 1.3115 (MA30d) and finally 1.3151 (high Jun.25). On the downside, a break below 1.3004 (low Jul.1) would open the door to 1.2991 (low Jun.28) and then 1.2985 (low Jun.26).
comments powered by Disqus