After having already increased sharply last week, the EUR/USD pair maintains a positive orientation on Monday, managing to score new heights.
Recall that the EUR/USD took advantage of the weakness of the Dollar, mainly because of the meeting of the Fed’s dovish tone that has the eyes of the market increased the likelihood the Fed will lower soon its rates.
This morning, the Euro-Dollar marked the end of a peak at 1.1392 , almost reaching the next goal of the psychological threshold of 1.14.
The IFO index in line with expectations, with remarks optimistic of the IFO institute, who declares that he does not expect a recession in Germany also seems to have supported the Euro.
It should be noted, however, that it was the one and only statistics, potentially influential expected in the economic calendar of the day.
The news, however, could still bring volatility, with tensions still bright between the USA and Iran, and with the resumption of talks on China-USA in view of the encounter Trump-Xi scheduled this week.
From a graphical point of view, we could meet this morning an important bullish signal, with the crossover of the moving average 100 hours above the moving average 200 hours.
The psychological threshold of 1.14 in which the pair approach more and more, is the next resistance to be taken into account. Beyond, 1.15 will be considered as a key objective.
Has the downside, a first support intraday lies to 1.1370, before another higher level of support around 1.1340, and then on the psychological threshold of 1.13.