EURUSD biggest gainer vs the majors
Gary Christie October 19, 2020 3:27 PM
The pair is still stuck in a consolidation after breaking trend: Chart
The US Dollar was bearish against most of its major pairs on Monday with the exception of the AUD. On the US economic data front, no major economic data was released.
On Tuesday, Housing Starts for September are expected to increase to 1,460K on month, from 1,416K in August.
The Euro was bullish against most of its major pairs with the exception of the CHF. In Europe, Eurozone construction output increased +2.6% in August, following a 0.3% rise in July.
The Australian dollar was bearish against all of its major pairs.
Looking at the most active pairs, The largest gainer on the day was the EUR/USD which climbed over 0.48% or 57 pips to 1.177 in Monday's trading. The pair is consolidating between 1.183 resistance and 1.1605 support after breaking below a rising trend line. The preference is for a break below 1.1605 support to start a new downtrend however a break above 1.183 resistance is possible based on Monday's strong performance.
Source: GAIN Capital, TradingView
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