- EUR/USD is having an 80-pip jump as US President Donald Trump said he was not thrilled about interest rate hikes. US Pres. Trump worries that higher rates would ‘nullify’ work his administration has done – CNBC
- EUR/USD is now testing the 1.1672 resistance, the June 27 high and is trading well above its 200-period simple moving average as bulls broke to new daily high.
- A breakout above the daily high is seen as a sign of strength for bulls and would likely open the gates to a test of the 1.1700 figure.
Spot rate: 1.1670
Relative change: 0.27%
High: 1.1678
Low: 1.1574
Trend: Bullish
Resistance 1: 1.1672 June 27 high
Resistance 2: 1.1700 figure
Resistance 3: 1.1730-1.1740 area, 23.6% Fibonacci retracement from mid-April-May bear move and last week’s open.
Resistance 4: 1.1790 last week’s high
Resistance 5: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1640-1.1649 area, key level and July 12 low
Support 2: 1.1600-1.1613 figure and last week’s low
Support 3: 1.1560 June 14 low
Support 4: 1.1508 current 2018 low
Support 5: 1.1400 figure
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