25.06.2020 EUR/USD Daily Analysis

25.06.2020 EUR/USD Daily Analysis

EUR/USD appears to have met some important resistance in the 1.1350 regions so far this week. In the meantime, investors continue to look to the gradual return to some sort of normality in the Old Continent as well as rising concerns over the probability of the second wave of   coronavirus contagion. The constructive view in the euro, however, remains well sustained by the gradual and relentless re-opening of economies in Europe and by the ongoing monetary stimulus announced by the ECB, Germany, and the European Commission. On top, the solid performance of the region’s current account is also adding to the attractiveness of the shared currency. EUR/USD levels to watch At the moment, the pair is losing 0.11% at 1.1237 and faces the next support at 1.1168 (monthly low Jun.19) seconded by 1.1147 (high Mar.27) and finally 1.1031 (200-day SMA). On the upside, a breakout of 1.1348 (weekly high Jun.23) would target 1.1422 (weekly/monthly high Jun.10) en route to 1.1448 (50% Fibo of 2017-2018 rally).