Hi traders,
TECHNICALS:
As expected, the EUR/USD pair found support around the 1.12 level after which the pair formed two strong bullish candles, signaling more upside potential.
SUPPORT 1: 1.1280
SUPPORT 2: 12.20
RESISTANCE 1: 1.1345
RESISTANCE 2: 1.1400
INTEREST RATES:
2-year yield differentials are also pointing higher at the moment, supporting a bullish view. European PMIs printed a v-shaped recovery this morning which also added to more EUR strength.
RISK SENTIMENT: Equities around the world show strong gains this morning, signaling a risk-on environment which might be beneficial for EUR/USD.
We're still looking at 1.14 as a possible profit target.
TECHNICALS:
As expected, the EUR/USD pair found support around the 1.12 level after which the pair formed two strong bullish candles, signaling more upside potential.
SUPPORT 1: 1.1280
SUPPORT 2: 12.20
RESISTANCE 1: 1.1345
RESISTANCE 2: 1.1400
INTEREST RATES:
RISK SENTIMENT: Equities around the world show strong gains this morning, signaling a risk-on environment which might be beneficial for EUR/USD.
We're still looking at 1.14 as a possible profit target.
