Home Forex News The Euro Surged to a Nearly 19-Month High

The Euro Surged to a Nearly 19-Month High

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EUR/USD rose 0.76% to $1.1530

The EU’s coronavirus recovery fund, made up of €390 billion in grants and €360 billion in loans, should prop up the euro as economic activity picks up in the bloc, BK Asset Management said. “The size and scope of the deal are historic and open the way for greater federalism within the union which could make Europe a more integrated market and stronger economic competitor on the global stage.

With the EU showing a better handle on the coronavirus outbreak than the U.S., the economic bloc may “even enjoy a competitive advantage,” BK added.

TREND : WEAK BULLISH / SIDEWAYS

Time                                      :               22/07/2020

Pivot                                     :               1.1503

Technical View                     :               LONG ABOVE 1.1523

Target                                   :               1.1543, 1.1598, 1.1632, 1.1712

Technical View                     :               SHORT BELOW 1.1483

Target                                   :               1.1463, 1.1444, 1.1374, 1.1331

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