The euro appreciated towards $1.09 in afternoon trading on Monday, as risk-on moods returned to the markets following news that Moderna (MRNA.US) experimental vaccine to treat COVID-19 had positive results during its first human trial. Investors also digest recent Fed Chair comments and the fact that Fitch lowered the outlook on France's AA rating to negative from stable, citing the substantial worsening in public finances and economic activity expected this year due to the ongoing pandemic.
The EURUSD has continued its run to the upside and managed to broke above the high from Friday. Should upbeat moods prevail, key resistance at 1.09 may come into play. On the other hand, once sellers regain control, the support at 1.0837 may be at risk. Source: xStation5
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