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EUR/USD climbs to session high as the euro catches a bid

EUR/USD climbs to session high as the euro catches a bid

Technical Analysis
Justin Low
05/07/2018 | 05:49 GMT

EUR/USD touches a high of 1.1687

The euro got a bit of a jolt overnight from this ECB report here, and we're starting to see more of a follow through move on the back of that early on in European trading now.

EUR/USD looks to be breaking above the 50.0 retracement level @ 1.1680 - a level that has stalled the upside move over the last week - as the high now touches 1.1689. There's resistance seen at 1.1700 and also large expiries at the figure level (rolling off today and tomorrow) which may help to cap any further upside move on the day.

It's a move higher across the board for the euro as EUR/GBP touches a high of 0.8836 on the day now and EUR/JPY is also up to session highs of 129.35.

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