EUR/USD hits fresh highs as Republican leaders lose confidence in the health bill vote

The US dollar weakened in the market and fell to fresh lows against many currencies, including the euro, after reports mentioned that House Republican Leaders were not confident to have enough votes to pass the Obamacare repeal. 

EUR/USD climbed from 1.0795 to 1.0814, hitting a fresh 2-day high. The pair continues to trade near the highs and also close to the key resistance area located around 1.0820/30, that capped the upside several times during the week. 

The euro continues to consolidate daily and weekly gains. EUR/USD is about to post the fourth weekly gain in a row and the highest since November of last year. 

Technical levels 

To the upside, the immediate resistance is seen around 1.0820/30 (weekly high), followed by 1.0850 (Oct 25 low) and 1.0875 (Dec high). To the downside, support could be seen at 1.0790 (American session low), 1.0760 (daily low) and 1.0740.