After EURUSD gained strength last week breaking above the long term trend line, the pair struggles to make further movement from 19th February, trapped in the consolidation region. The European currency continues to look to developments from the US-China trade talks for near term direction, while the effervescence on the US-EU trade front appear somewhat relegated so far.
The week started off in a positive side for the pair, but struggles to breakthrough the last high at 1.137000 region. The demand for the riskier assets has been bolstered further in past hours after President Trump delayed the US tariffs on Chinese products, adding that a new meeting with China’s Xi Jinping is on the table at some point in March. As of writing EURUSD falling below 1.13600 where bulls failed to break the last high since last week. Sailing in 1.13500 strong support region, bulls are expected to break the last high barrier above 1.13700 targeting up-to 1.1450. On the other side, the break below 1.13200 will lead the bears to 1.12850 and further to 1.1230 region.
EURUSD TODAY:
Daily open: 1.13340
Daily Last high: 1.13676
Daily Last Low: 1.13269
Daily current growth: +0.27%
