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The Euro surged to multi-week highs on hopes of further stimulus package – EUR/USD Market Outlook – 15/07/2020

SquaredFinancial

The Euro surged to fresh multi-week highs on hopes European leaders may agree on stimulus to shield the economy from the pandemic. The USD was on the defensive once again following the uptick in US inflation and news of progress in vaccine development for COVID-19. The risk-on sentiment pushed the single currency as high as 1.1423 in Asia, if this recent momentum persists, the bulls will likely break above that critical resistance targeting next the 1.15 level.

Support: 1.1385 / 1.1340
Resistance: 1.1420 / 1.1494

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-euro-surged-to-multi-week-highs-on-hopes-of-further-stimulus-package-eur-usd-market-outlook-15-07-2020
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