EUR/USD trades at session highs with the euro keeping firm from EUR/GBP weakness on the day
The pair is inching higher on the session, reaching 1.1159 as the euro is staying underpinned despite dollar strength against some of the other major currencies today.
For EUR/USD, buyers continue to defend the 100-hour MA (red line) @ 1.1137 and that is keeping the upside momentum in tact for the time being. The euro is also getting a helping hand from the EUR/GBP complex as the pound gives up its election gains.
As we look at the euro against the dollar, buyers still have some work to do in trying to establish more upside momentum. There is minor resistance around 1.1150-58 before looking towards 1.1180-00 next.
But one of the key spots to watch in trading today will be the 200-day moving average @ 1.1153. If buyers can hold a daily close above that, it will be the first such case since the end of June this year and could pave the way for more upside momentum.
