EUR/USD climbs to near two-week high as dollar keeps weaker to start the week

Technical Analysis

Author: Justin Low | eurusd

EUR/USD touches a high of 1.1317, the highest level since 24 June

EUR/USD H1 06-07
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Buyers are looking to capitalise on a push above 1.1300 going into North American trading, with price now looking towards the swing region around 1.1325 next.

As the near-term bias stays more bullish and buyers are extending the momentum, the 23 June high @ 1.1349 and 16 June highs around 1.1350 will be a key focus area.

There isn't any headline catalyst driving the push here with the dollar continuing to keep weaker on the session. USD/JPY has also moved back down from 107.70 to 107.50 currently but dollar losses against risk currencies are still rather modest.

Back to EUR/USD, keeping and staying above the 1.1300 handle will be the first key test with a break above the resistance regions highlighted above to give further momentum for a potential test of 1.1400 once again (where the June highs stalled).

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