The European shared currency rose against the dollar following the release of Germany's growth data that witnessed the fastest expansion rate in two-decades. Portugal managed to auction and successfully sold 4-year and 10-year bonds worth €1.25 billion, signaling that investors' concern regarding the region's debt has eased significantly.
Industrial production in the Euro-Zone rose unexpectedly throughout the month of November affected by the increase in demand and the rise in exports following the depreciation of the euro over the past period.
The US dollar index, which tracks the performance of the currency against six-others traded lower today at 80.47, while setting a low of 80.44 and a high of 80.84, this is compared with the opening levels of 80.66.
The EUR/USD pair traded higher on the daily scale, where the pair breached 1.3000 levels, where it's currently trading at 1.3060; this is compared with the opening levels of 1.2970. The pair managed to set the highest at 1.3065 and the lowest at 1.2959.
Further bullishness is expected, as the pair targets 1.3120, which if breached, but the pair needs to obtain four-hour closing above 1.3100 in order to achieve the mentioned targets.
As for the pound, the cable breached the resistance at 1.5635 and traded higher at 1.5705, this is compared with the opening levels of 1.5597.
Today's trading range will be bounded between the above mentioned resistance that converted to become a support levels, and the resistance levels at 1.5805.
The dollar traded higher against the yen, reaching 83.31, compared with the opening levels of 83.22, while setting a high of 83.45 and a low of 82.96.
The pair's nearing 83.50, with the Stochastic Oscillator heading towards an overbought area on the daily scale, the pair might witness a downside trend later on today that would allow it to re-test levels at 83.00 where obtaining a daily closing below this level, would pave the path for the pair to target 84.00.