The euro has moved to the highest trading levels of the week against the U.S dollar, hitting 1.2380, as financial markets look past U.S Tariff fears and the recent Italian election result. The EURUSD has broken above the key 1.2364 resistance level, as investors speculate that President Trump will not impose Trade Tariffs on the European Union. Moving into the U.S trading session, investors await the release of U.S Factory Orders and any new comments from President Trump that effect the U.S dollar index.
The EURUSD is strongly bullish above the 1.2364 level, with buyers pushing towards the key 1.2430 and 1.2550 resistance levels.
If the EURUSD now moves back below the 1.2364 level, sellers may push the pair back towards the 1.2305 and 1.2259 support levels.