The euro has moved sharply higher against the U.S dollar, hitting 1.1654, following U.S Republican Senators decision to delay the U.S Corporate tax cut, until 2019. The EURUSD pair currently trades around the 1.1645 level, as the U.S dollar comes under severe selling pressure against a basket of major currencies. Going forward, the bearish intraday sentiment surrounding the U.S dollar index is likely to remain the dominate trading theme on Friday.
The EURUSD pair remains intraday bullish while trading above the key 1.1640 level. Further upside towards the 1.1676 and 1.1710 levels appears likely.
Should price action decline below the 1.1640 level, technical sellers should re-test the 1.1610 and 1.1598 levels.
