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Euro Rises To A Fresh Four Month High Before Retreating

Posted On 21 Jul 2020
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The euro currency opened on a bullish note, from the optimism on the ongoing EU talks on fiscal stimulus. This helped the currency pair to rise to a fresh four-year high of 1.1467.

However, following this brief surge, prices pulled back sharply. The currency pair might remain somewhat volatile until full details emerge from the meeting.

For now, the euro remains supported by the 1.1400 level. But a close below this level could accelerate the declines down to 1.1347.

The second rising trend line is also likely to act as dynamic support, keeping prices supported for the moment.

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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