FxWirePro: EUR/USD remains bullish as rally continues
The EUR /USD pair rose on Tuesday as euro's rally was reinforced by dollar losses prompted by allegations that U.S. President Donald Trump disclosed highly classified information to Russia's foreign minister about a plan…
The EUR /USD pair rose on Tuesday as euro's rally was reinforced by dollar losses prompted by allegations that U.S. President Donald Trump disclosed highly classified information to Russia's foreign minister about a planned Islamic State operation.
A weak manufacturing report from the New York Federal Reserve on Monday also weighed on the greenback.
Investors are now focusing on when and how the European Central Bank (ECB) could scale back its quantitative easing given the recent strength in the euro zone economy.
The ongoing upside is set to continue for this pair as the support level at 1.1000 is likely to act as strong barrier to the bears.
To the upside, the immediate resistance can be seen at 1.1109, a break above this level would expose the pair to next resistance level at 1.1140.
To the downside, immediate support can be seen at 1.1062, a break below at this level will open the door towards next level at 1.1019.
