EUR/USD: The Euro shows a rally on backdrop of fall in the Dollar, thresholds to monitor


© Reuters. EUR/USD is advancing suddenly, for no apparent reason

Investing.com – The EUR/USD pair takes to the pitch on Monday afternoon, on a background of correction in the Dollar, with a peak at 1.1273, for the moment, against 1.1225 about in the beginning of the european session.

Once is not custom, little information seems to justify this movement, if this is a generalized weakness of the Dollar, which is benefiting also widely to the gold, and weighs on USD/JPY.

However, from a technical point of view, there has been an acceleration upward when the EUR/USD has managed to escape through the top of the triangle that guided its development since the middle of last week, and a new acceleration when the pair managed to cross the resistance of 1.1250, which has blocked several attempts to rise since the beginning of the month.

In the short term, the next hurdles in the case of a continuation of the rise are located at 1.1285 and 1.13. For the reduction, the support of 1.1250 is the first threshold to monitor.

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