The EURUSD shot higher overnight after what seemed to be fallout from USD bulls over Trump’s latest political and national security gaffe.
This morning’s weak U.S. housing starts and permits only exacerbated things for the greenback.
The combination of events left the common currency trading at its highest levels since November 9th U.S. elections last year.
Even at this moment, the pair is trading just 12 pips below a current session high of 1.1088.
It also puts the Euro 90 pips above the trend line that extends from the February 2nd high.
This is a level we’ve discussed several times in recent weeks and was also the location of the false break ahead of the May 7th run-off vote in France.
So is a EURUSD bullish break as good as done?
Source: Daily Price Action
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