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German chancellor Merkel made some concessions with regard to refugee politics yesterday while Catalonia didn't declare independence. EUR/USD rose about 40 pips in overnight trading. It followed that up as Europe opened for business and briefly traded above last Wednesday's high before pulling back.
Strong support in 1.165 - 1.17 band includes August low, 23.6% retracement of this year's uptrend and 100 DMA. If the support gives way, 1.15 will come into focus. On the upside, 1.18 is the initial resistance before a stronger one between 1.185 and 1.19.
Strong support in 1.165 - 1.17 band includes August low, 23.6% retracement of this year's uptrend and 100 DMA. If the support gives way, 1.15 will come into focus. On the upside, 1.18 is the initial resistance before a stronger one between 1.185 and 1.19.
