Euro Rises To A Fresh Four Month High Before Retreating

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The euro currency opened on a bullish note, from the optimism on the ongoing EU talks on fiscal stimulus. This helped the currency pair to rise to a fresh four-year high of 1.1467.

However, following this brief surge, prices pulled back sharply. The currency pair might remain somewhat volatile until full details emerge from the meeting.

For now, the euro remains supported by the 1.1400 level. But a close below this level could accelerate the declines down to 1.1347.

The second rising trend line is also likely to act as dynamic support, keeping prices supported for the moment.

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