- EUR/USD rallies to 2-week highs at 1.18.
- USD loses ground hitting multi day lows.
- Risk on trading Friday.
EUR/USD adds to gains trading at fresh 2-week highs near 1.1820 .
EUR/USD strengthens on USD weakness
EUR/USD extends gains above 55-day SMA (1.1797). Saw further pick up after breaking through the resistance line (off 2020 highs).
The USD trades lower at 93.20 a level last seen weeks ago. Demand for the greenback was weak amid rumours that stimulus talks were resuming.
Italian Industrial Production beat forecasts+7.7% month on month in August, supporting the idea of solid economic rebound In the US just August’s Wholesale Inventories along with the WASDE Report and the oil rig count by Baker Hughes appear on the economic calendar.