EUR/USD hits 1.12 after clear-cut UK exit polls, higher levels to watch
|EUR/USD is trading at 1.12, breaking above the double-top of 1.1180 which held it down in October and up 0.60% on the day. Euro/dollar is being carried higher by the exit polls from the UK elections, which show a landslide majority for Boris Johnson's Conservatives. The 110-seat majority may be hard to counter by real results.
A smooth Brexit that Johnson may advance provides some certainty for the euro-zone.
EUR/UDS is now eyeing 1.1230, which capped the currency pair in late August. Close by, 1.1250 was another peak in the summer. Further above,1.1285 held it down twice in July. It is followed by 1.1320, which dates back to June, and then 1.1390.
Looking down, 1.1160 was a resistance line in recent days and now turns into support. It is followed by 1.1130, a support line from October. Next, we find 1.11, which held EUR/USD down in November. It is followed by 1.1065, 1.1030, and 1.0980.
Earlier, the US and China reportedly reached an accord that would prevent new tariffs. Further details are awaited. Christine Lagarde, President of the European Central Bank, left interest rates unchanged in her first decision and sounded cautiously optimistic.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.