The euro pushed sharply higher against the U.S dollar on Friday, reaching 1.1940, amidst low trading volumes. The EURUSD pair has opened the week above the 1.1900 level, with price-action currently hovering around the 1.1920 region. Traders are likely to seek further technical confirmation that the break higher was genuine, as U.S traders return to their desks after Thanksgiving holidays. Later today traders will look to New Home Sale data from the U.S to set the tone for the U.S dollar.
The EURUSD pair remains strongly bullish while trading above the 1.1890 technical level. Further upside towards 1.1955 and the psychological 1.2000 level seems likely.
A sustained loss of the 1.1890 level should lead to a euro price-correction towards the 1.1855 and 1.1830 technical levels.
