The Euro continued to grind higher towards 1.19 as expected, despite record bullish bets on the Euro which is usually a contrarian signal. The USD remains broadly offered amid falling Treasury yields, therefore the decline could extend today if the 10-year yields keep falling, pushing the Single currency towards 1.20. However, if 1.19 acts as resistance, it will keep the pair within the same consolidation range until further notice.
Support: 1.1860 / 1.18
Resistance: 1.19 / 1.20
