The euro has moved sharply higher against the U.S dollar, hitting 1.1932, after reports surfaced that the White House could be replacing current Secretary of State Rex Tillerson. The EURUSD currently trades back around the 1.1900 handle, as the U.S dollar index stabilizes, after the index crashed to 92.80 on Thursday. The euro has made a swift recovery, after previously trading as low as 1.1810, after softer than expected inflation data from the eurozone economy. Traders now look to the release of the ISM manufacturing report from the United States.
The EURUSD pair remains strongly intraday bullish while trading above the 1.1900 level. Any declines will likely find support at the 1.1877 level. Extended support is found at the 1.1748 level.
A break back above the 1.1900 level, will likely lead to further upside in the EURUSD pair towards the 1.1932 and 1.1961 levels. Extended resistance is found at the 1.1990 level.
