The euro has moved above the 1.2400 level against the greenback, following President Donald Trump firing of U.S Secretary of State, Rex Tillerson. The EURUSD pair yesterday broke from recent narrow trading-ranges on the news, and now looks to further bullish advancement above the key 1.2430 resistance level. EURUSD traders now look to the release of monthly CPI inflation figures from the German economy, and a key speech from ECB President Mario Draghi during today’s European session.
The EURUSD pair is strongly bullish whilst trading above the 1.2400 level, further upside towards the 1.2430 and 1.2510 levels seems possible.
Should the EURUSD pair move below the 1.2400 level, we may see a correction towards the 1.2382 and 1.2367 support levels.