EUR/USD to surge higher towards 1.1975 on a break above July highs at 1.1910
EUR/USD continues to push higher. In the view of FXStreet’s Pablo Piovano, a move beyond 1.1900 remains likely.
See – EUR/USD: Positive eurozone economic surprises offer support for the euro – MUFG
EMU PMIs and US ISM Manufacturing in the limelight later in the session
“The buying pressure surrounding the pair does not give any hint of exhaustion and remains underpinned by the investors’ preference for the riskier assets, all against the backdrop of some lack of upside traction in the dollar.”
“Later in the session, market participants are expected to closely follow the release of the ISM Manufacturing across the pond, while final July PMIs in the euro area should not surprise anybody.”
“Immediate and interim resistance for the pair comes in at the July’s peak near 1.1910 recorded on Friday. The surpass of this level should open the door to extra gains to, initially, the late-June tops around 1.1975. Further north comes in the psychological 1.2000 mark, where also sits the critical 200-day SMA.”