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EURUSD – Will Confirmation Trigger Another Rally
The euro has been boosted against the dollar since last Friday following the release of the US Q2 GDP data that delivered a hammer blow to rate hike chances and therefore the greenback. The moves that followed took the pair through the 1.1150 resistance that it had traded primarily within for the month prior to the data and further upside may be on the cards. The pair broke as high as 1.1240 yesterday – a prior level of support – before heading back to the level that had provided so much resistance over the last month. How the pair reacts at this level could offer great insight into where it’s headed next. ... (full story)