EURUSD surges on weaker dollar; eyes key barriers at 1.1961/1.2000
The Euro accelerated higher in the American session and broke above 1.1867 Fibo barrier, as extension above daily cloud turns focus towards key near-term barriers at 1.1961 (27 Nov high) and psychological 1.2000 resistance.
Fresh strength came from weaker dollar, hurt by report saying that signing of US tax legislation may be delayed.
This opens way for further advance, supported by improved daily studies.
Broken Fibo barrier now acts as initial support at 1.1867 with 20SMA which held today’s action, marks pivotal support at 1.1828.
Res: 1.1903; 1.1940; 1.1961; 1.2000
Sup: 1.1867; 1.1828; 1.1810; 1.1792