The single currency is grinding higher towards the 2020 peak of 1.2177, as US government is nearing a fiscal stimulus deal. Risk-on sentiment boosted equities, pushing the Dollar Index to new 2020 lows. We remain bullish on the Euro, looking to buy any dips towards the 50-SMA targeting above 1.22. Today’s FOMC meeting could be the fundamental catalyst we were waiting for.
Support: 1.2080 / 1.2040
Resistance: 1.2180/ 1.2250