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Euro Rises To A Fresh 4-Month High

Posted On 22 Jul 2020
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The common currency posted a fresh four-month high on Tuesday.

The gains were driven by the news that the EU leaders agreed to a new EU wide grants package.

This, alongside a weaker dollar, contributed to gains in the EURUSD.

The pair is now into its third consecutive session of gains.

Prices reversed direction after hitting the trend line and bouncing off the support.

Given the current bullish momentum, the EURUSD is within sight of testing the 1.1500 handle next.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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