EUR/USD: fresh highs through 1.19 handle, where next?

Currently, EUR/USD is trading at 1.1887, up 0.73% on the day, having posted a daily high at 1.1911 and low at 1.1794.

EUR/USD just popped the 1.19 handle on the last hourly stick with a trend that can't be denied at the moment. Both technicals and fundamentals are favouring the bid in the euro, from expectations of a more hawkish ECB and a less hawkish Fed. 

Analysts at Scotiabank explained earlier that it is hard to argue with the upside move."Gains rather reflect the generally negative mood that has descended on the USD and the strong momentum behind EUR gains," explained the analysts. 

EUR/USD levels

EUR/USD: bull trend remains well-entrenched across all time frames - Scotiabank

On the wide and a break of the 1.20 and 1.21 handle, the key upside target is 1.2167 and the 50% Fibonacci of the 1.3995 to 1.0340 drop (2014-2017). The pair is technically bid after the monthly close above 1.1736, the 38.2% retrace of the same fall when it made a fresh 2017 high at 1.1910 today. 1.1720 to the downside is a key technical support area and if broken, focus will be back to the accelerated uptrend at 1.1593 and the 3-month uptrend at 1.1447.