EUR/USD moves higher and challenges the 1.1870 region. Risk appetite leans towards the riskier assets on Monday. US NAHB index surprised to the upside at 78 in August. The buying interest around the European currency remains well and sound at the beginning of the week, lifting EUR/USD to the key hurdle near 1.1870. EUR/USD faces strong resistance near 1.1880 EUR/USD is posting gains for the fifth consecutive session on Monday, prolonging the bounce of last week’s lows in the 1.1700 neighbourhood. As usual, the persistent weakness in the greenback keeps sustaining the upside momentum in the pair. However, a tough barrier is seen around 1.1880, considered as well as the latest defence for a visit to YTD peaks near 1.1920 (August 6). Markets’ attention remains fixed on the US political arena, where another fiscal stimulus package still waits to be discussed by US lawmakers. However, recent auspicious data releases in the US economy appear to have poured some cold water over expectations of a deal, at least in the very near-term. In the docket, the US NAHB index came in at 78 for the current month, exceeding expectations, while the Empire State Index surprised to the downside at 3.70 for the same period. What to look for around EUR EUR/USD pushed higher and recorded new highs near 1.1920 earlier in the month, subsequently sparking a corrective downside that met solid contention in the 1.17 region for the time being. The July-August rally, while largely triggered by broad-based dollar-selling and improved sentiment in the risk-associated universe, found extra sustain in auspicious results from domestic fundamentals, which have been in turn supporting further the view of a strong economic recovery following the coronavirus crisis. Also lending wings to the momentum around the euro appear the deal on the European Recovery Fund – which helped putting political fears within the bloc to rest (for now) – and the solid position of the current account in the region. EUR/USD levels to watch At the moment, the pair is gaining 0.23% at 1.1867 and a breakout of 1.1916 (2020 high Aug.6) would target 1.1996 (high May 14 2018) en route to 1.2032 (23.6% Fibo of the 2017-2018 rally). On the flip side, initial contention is seen at 1.1695 (monthly low Aug.3) followed by 1.1495 (monthly high Mar.9) and finally 1.1448 (50% Fibo of the 2017-2018 rally). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Price Analysis: Slides to fresh session low, risks breaking below 106.00 mark FX Street 2 years EUR/USD moves higher and challenges the 1.1870 region. Risk appetite leans towards the riskier assets on Monday. US NAHB index surprised to the upside at 78 in August. The buying interest around the European currency remains well and sound at the beginning of the week, lifting EUR/USD to the key hurdle near 1.1870. EUR/USD faces strong resistance near 1.1880 EUR/USD is posting gains for the fifth consecutive session on Monday, prolonging the bounce of last week’s lows in the 1.1700 neighbourhood. As usual, the persistent weakness in the greenback keeps sustaining the upside momentum in the pair. However, a tough… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.