EUR/USD is holding onto gains above 1.1850 as investors cheer a better vaccination schedule in Europe and upbeat Services PMIs. President Biden is set to provide an update about the infrastructure plan and the Fed's minutes may shed light on the bank's next moves.
The strong recovery in EUR/USD challenges the key 1.1880 region on Wednesday.Buyers appear to have returned to the market and push the pair. If the upside impulse picks up extra pace, then the 1.1980/90 region should return to the radar. In this area converge the mid-March peaks, and a Fibo level (of the November-January rally).Above 1.880the stance for EUR/USD is expected to shift to positive.
On the flip side, support is at 1.1785, a resistance line from last week, followed by 1.1760, 1.1740 and finally by the round 1.17 level.