EUR/USD skyrocket to fresh highs but stuck at 1.1780

Discussion in 'Currency Pairs' started by Larry, Oct 18, 2017.

  1. Larry

    Larry Administrator

    EUR/USD bounced from 1.1730 and rose erasing losses. The pair even reached a fresh daily high at 1.1780. The area around the top capped the upside and at the moment of writing, it was trading at 1.1765/69, around the same level it closed yesterday.

    A resilient euro and a pullback of the US dollar pushed the pair to the upside during the last hours. The US Dollar Index reached earlier at 93.61, a fresh 1-week high but then retreated to 93.30. It moved off daily highs as Treasury yields remained near daily highs, and also as the Dow Jones index hit a new record high above 23,100. At the same time, the euro rose to fresh highs versus the pound and the Swiss franc.

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