EURO FURTHER BULLISH ABOVE 1.1880
The euro continues to remain in demand against the U.S dollar, with the pair now pushing back towards the 1.1900 handle. The EURUSD trades around the 1.1880 level, with dip buyers helping to create bullish technical higher price-lows on the charts. The U.S dollar is under marginal selling pressure, as Asian investors move into riskier asset classes, with commodity related currencies leading the way. The main event for financial markets on Wednesday will be the release of U.S Consumer Confidence and Pending Homes sales data later today.
The EURUSD remains intraday bullish while trading above the 1.1880 level, buyers may now target towards the 1.1900 and 1.1940 resistance levels.
Should the EURUSD pair start to dip below the 1.1880 level, sellers may push the euro towards the 1.1860 and 1.1830 levels.