Da Hua: There may be further room for the Euro to rise against the US Dollar.

Quek Ser Leang of the Global Economic and Market Research Department at Dahua stated in a report that, according to charts, the euro may have further upside potential against the US dollar. The senior technical strategist pointed out that the euro has surged above the 55-day moving average and the daily MACD indicator is steadily rising. However, he added, "it is still too early to determine whether the current upward momentum is strong enough to break through the key resistance level of 1.1800." Data from the London Stock Exchange Group shows that the euro has risen by 0.8% to $1.1685.