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The Euro heading towards 1.15 – EUR/USD Market Outlook – 09/07/2020

SquaredFinancial

The Euro breaks above 1.1350 as upside momentum looks promising with the cost of borrowing for Eurozone’s riskiest countries falling to levels last seen before the beginning of the coronavirus crisis. The spread between the 10-year Greek and German government bond yields fell to 1.53 on Wednesday to hit the lowest level since the end of February. Therefore, the path of least resistance for the single currency appears to be on the higher side for now. The bid tone would strengthen further pushing the pair towards 1.1420, if the risk sentiment in equities prevail.

Support: 1.1345 / 1.13
Resistance: 1.1420 / 1.15

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-euro-heading-towards-1-15-eur-usd-market-outlook-09-07-2020
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