The Euro surged to 1 1/2 week high at 1.1859 (up 1% for the day so far) driven by fresh wave of risk appetite on rising expectations for Biden’s victory that would boost talks about new stimulus package.
Fresh bullish acceleration after Wednesday’s long-legged Doji candle, shifts near-term focus to the upside, as bulls cracked strong Fibo barrier at 1.1855 (61.8% of 1.2011/1.1602) and eye next key obstacle at 1.1880 (21 Oct high).
Rising bullish momentum on daily chart supports the action, along with rising RSI and moving averages now in bullish configuration.
Daily close above 1.1800 zone (50% retracement of 1.2011/1.1602) is needed to confirm bullish stance.
Res: 1.1859; 1.1880; 1.1900; 1.1917
Sup: 1.1805; 1.1779; 1.1760; 1.1740
