The Euro is up 1.5% for the week so far and last sat comfortably at $1.2140. Having finally breached US$1.2000 after multiple attempts, momentum funds have surged in to long positions. The next serious chart resistance level is not until $1.2555.
SYDNEY: The euro was headed for its best week in a month on Friday and has blown past major resistance levels as investors piled into bets the U.S. dollar has further to fall as the world begins to emerge from the COVID-19 pandemic.
The common currency is up 1.5% for the week so far and last sat comfortably at $1.2140. Having finally breached US$1.2000 after multiple attempts, momentum funds have surged in to long positions. The next serious chart resistance level is not until $1.2555.
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