- EUR / USD gains momentum and rises to the 1.2065 area.
- The dollar weakens in the context of appetite for risk.
A CThe general decline in the dollar after the start of the American session pushed the EUR / USD, which climbed to 1.2065, reaching the highest level since Tuesday. The price is around 1.2055, rising for the second day in a row, recovering after trading below 1,200 last week.
The upward movement comes amid a tone of optimism in global markets. In Wall Street, the main indices operate at record levels. The Dow Jones is up 0.55% and the Nasdaq 0.78%.
The Greenback lost ground after having been climbing most of the day. The dollar index after reaching 91.20, reversed direction and is now below 90.95. The yields of the Treasury bonds moved away from the highs favoring the weakness of the dollar.
The performance of the dollar remains the key driver in the EUR / USD. Attention is also focused on the words that Chirsitine Lagarde can pronounce later on Monday. One factor that gave the euro some support is the growing possibility that Mario Draghi will become Italian premier.
From a technical point of view, EUR / USD has a bullish tone in the very short term that would be expected to last as long as it is above 1.2035, where the 20-hour moving average is passing. To the upside, it is facing significant resistance at the 1.2060 / 70 area, a confirmation above it would give more support to the euro, to extend the raises.
Technical levels
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