EURUSD is heading towards 1.09

4:10 PM 18 May 2020

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

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits