EUR/USD pushes higher and tests 1.1550, daily highs
|- The pair is extending the upside and is now hovering over the mid-1.1500s.
- The greenback faces persistent selling pressure and gyrates around 95.50.
- Nothing scheduled today in Euroland, while Italy remains in centre stage.
EUR/USD continues its march north at the beginning of the week and is now moving to session tops in the 1.1550/55 band.
EUR/USD looks to risk trends, Italy
The pair is extending the upbeat mood on Monday, always with eyes set on Italy, Brexit and the broad risk appetite trends.
In fact, EUR saw some relief as of late after EU’s officials said the EU would not interfere with Italy’s new policies. In addition, credit rating agency Moody’s downgraded Italian debt to Baa3 on Friday, although it kept the stable outlook, collaborating with the better mood among investors.
Looking ahead and in the absence of data releases in Euroland, Italian and Brexit headlines remain poised to drive the sentiment in the global markets. Across the pond, the Chicago Fed National Activity Index for the month of September is only due later in the NA session.
EUR/USD levels to watch
At the moment, the pair is up 0.24% at 1.1542 facing the next resistance at 1.1550 (high Oct. 22) seconded by 1.1570 (21-day SMA) and then 1.1623 (high Oct.16). On the flip side, a break below 1.1430 (low Oct.9) would target 1.1323 (200-week SMA) en route to 1.1299 (2018 low Aug.15).
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