The Euro bulls remain in control amid optimism over the EU’s coronavirus 750 billion euros recovery fund proposed last month. Also, expectations that the ECB will likely boost the bond-buying at its monetary policy meeting this Thursday keep the bulls hopeful. Today, the Single currency will likely remain supported from the broad-based dollar sell-off, while holiday-thinned market conditions could help the pair to break above the 1.1150 resistance and push towards 1.12, if the German Manufacturing PMI beats market expectations.
Support: 1.11 / 1.1050
Resistance: 1.1150/ 1.12
