EUR/USD hits fresh monthly highs, still unable to break 1.1200

The euro rose further against the US dollar and printed a fresh 6-month high at 1.1197. Since the beginning of the American session EUR/USD has been trading in a range between 1.1180 and 1.1197. 

The pair is about to post the fifth daily gain out of the last six trading days and the highest weekly close since September. 

On Friday, the euro is among the top performers. It is also gaining ground against the pound and the Swiss franc. On the opposite direction, the US dollar is falling with the US Dollar Index trading at the lowest since November, near 97.00.

In Wall Street, equity prices are rising. The Dow Jones is up 0.69% and the Nasdaq gains 0.72%. In the bond market, the 10-year yield is up modestly at 2.24%.  

Technical levels 

To the upside, above the 1.1200 handle resistance levels might be located at 1.1210, 1.1245/50 (Sep high) and then 1.1300 (psychological). On the downside, support now could be seen at 1.1180/85 (American session low), 1.1140 (20-hour moving average) and 1.1095 (May 19 low). 

 


 

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