EUR/USD hits fresh highs as Republican leaders lose confidence in the health bill vote
|The US dollar weakened in the market and fell to fresh lows against many currencies, including the euro, after reports mentioned that House Republican Leaders were not confident to have enough votes to pass the Obamacare repeal.
EUR/USD climbed from 1.0795 to 1.0814, hitting a fresh 2-day high. The pair continues to trade near the highs and also close to the key resistance area located around 1.0820/30, that capped the upside several times during the week.
The euro continues to consolidate daily and weekly gains. EUR/USD is about to post the fourth weekly gain in a row and the highest since November of last year.
Technical levels
To the upside, the immediate resistance is seen around 1.0820/30 (weekly high), followed by 1.0850 (Oct 25 low) and 1.0875 (Dec high). To the downside, support could be seen at 1.0790 (American session low), 1.0760 (daily low) and 1.0740.
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.