The euro currency has moved to yet another new 2018 trading-high against the U.S dollar, hitting 1.2458, as the greenback faced a wave on new selling interest. Price-action is currently holding around the 1.2420 level, with the EURUSD pairs key 200-month moving average located just above, at the 1.2432 level. Traders and investors now await the European Central Bank Policy Meeting, with financial markets looking for ECB President Mario Draghi’s comments on the rapid appreciation of the EURUSD exchange rate.
The EURUSD pair remains strongly bullish while trading above the 1.2376 level, upside targets remain 1.2470 and 1.2500 for buyers.
Should the EURUSD pair move below the 1.2376 level, sellers may push price-action towards the 1.2332 and 1.2396 support levels.
