The Euro rallies due to dollar weakness and breaks the psychological barrier of 1.20. After the Federal Reserves dovish shift earlier this week, we have seen the dollar free-fall and other currencies rally. But none have rallied much like the most liquid pair, hitting level we haven’t seen since May 2018.
Although the sellers are coming in capping the pair at 1.2010 the upside is still expected to continue. Looking at the technical level consider 1.2090 as the next benchmark with 1.1260 to follow.