EUR/USD is trading just under 1.16, near its 21-month highs. The ECB’s Lagarde expressed satisfaction from the EU fund agreement that is boosting the euro. The safe-haven dollar is shrugging off intensifying Sino-American tensions.
The Euro cracked important barriers at 1.1595/1.1600 (50% of 1.2555/1.0635 / round-figure) on Wednesday, as bulls accelerated and extend into the fourth straight day. The rally is currently taking a breather and consolidating on overbought hourly / 4hr studies before the final break higher.