- EUR/USD reached a fresh daily high near 1.1300 and pulled back.
- The euro received support from a weaker US dollar and from a rally of GBP/USD.
The EUR/USD pair received a boost from GBP/USD and climbed to 1.1293, hitting a fresh daily high. But the euro lost strength near the 1.1300 handle and pulled back. It is trading at 1.1275, on positive territory for the day and far from the lows.
Earlier today, it dropped to 1.1215, the weakest since June 2017 and then rebounded. The move higher was boosted by a correction of the US dollar against majors and more recently by Brexit headlines.
Specialized media is reporting on signs that the United Kingdom and European Union could be close to a deal on Brexit. Still is not clear PM May could secure the support of her cabinet or the Parliament.
Despite falling versus main European currencies, the greenback is up against emerging-market currencies on the back of risk aversion. Crude oil is tumbling almost 5%. The DXY is correcting lower from 17-month highs at 97.25.
EUR/USD Technical levels
On the upside, the immediate resistance is seen at the 1.1300 area and above at 1.1330 and 1.1355. To the downside, support levels could be located at 1.1270, followed by 1.1250 and 1.1235.
Share
