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The Euro rose on Wednesday to its highest level since October 2018 against the US Dollar, maintaining the momentum it gathered from the European Union’s agreement on a COVID-19 recovery fund, especially as demand for safe havens increased.
After rising by 0.5% earlier, the EUR/USD is currently trading at 1.15696, up by 0.32% for the day.
This also comes as the USD is showing a mostly poor performance across the board.
The dollar index (DXY) is down by 0.15% just below 95.00.
In addition, the European currency was supported by the stock market strong gains.
Some analysts are now expecting the Euro to exceed the $1.2 mark by the end of 2020.
Support Levels: 1.1450 – 1.1378 – 1.1333
Resistance Levels: 1.1567 – 1.1612 – 1.1684
