The euro currency has moved to a new monthly trading-high against the greenback, hitting 1.1958. The EURUSD pair has now pulled back slightly, as Italian Prime Minister Paolo Gentiloni announced the country will hold a general election on March 4, 2018. This could affect the euro, as experts predict a hung parliament, and possible market turbulence in the euro zone’s third largest economy. EURUSD traders now look to the release of key German CPI inflation data for the month of December.
The EURUSD remains intraday bullish while trading above the 1.1930 level, buyers may still push price-action towards the 1.1958 and 1.2000 resistance levels.
Should the EURUSD start to trade below the 1.1930 technical level, sellers may move the pair back towards the 1.1910 and 1.1884 support levels.
