EUR/USD hits 1.1070
The euro is higher for the third day and finally appears to have definitively broken above 1.1018 and the stick area of resistance there.
With that, the March 30 high of 1.1163 is now the target on the chart and looks like an enticing one.
In the bigger picture, if we’re pricing in the reopening in the US, we should really be pricing it in everywhere. At the moment, European equities are still significantly behind the US.
In Italy, for instance, the FTSE MIB is just now brushing up against the 38.2% retacement.
This article was originally published by Forexlive.com. Read the original article here.