The rate of EUR/USD continues to strengthen and has already reached its half-year maximum at the level of 1.1200. From fundamental and technical points of view there are still no factors that may indicate the change of the growing tendency in the near future. EUR is supported by the unwinding political scandal in the USA and good recent macroeconomic statistics from the EU.
Today the macroeconomic calendar contains no important releases. However, tomorrow a block of statistics is due from the EU, and the participants of the market will pay attention to the following news: German GDP at 08:00 (GMT+2), Markit services PMI in the EU at 10:00 (GMT+2) and business optimism index by IFO from Germany at 10:00 (GMT+2).
On D1 chart technical indicators show the preservation of the growing tendency. MACD histogram is in the positive zone with its volumes growing rapidly and forming a buy signal. Bollinger Bands diverge confirming the current upward trend. Currently the pair is testing the resistance level of 1.1209. Breaking through it will be a signal for the continuation of growth, and in this case the next target of the “bulls” will be the level of 1.1300. If the attempts to consolidate above 1.1209 are not successful, downward correction may form and lead to the level of 1.0980.
Support levels: 1.1076, 1.0980, 1.0884.
Resistance levels: 1.1209, 1.1302, 1.1400.