The euro strengthened against the other major currencies in the Asian session on Monday.
The euro rose to more than a 1-month high of 1.0703 against the U.S. dollar, nearly a 1-1/2-month high of 122.89 against the yen and nearly a 2-month high of 0.8787 against the pound, from Friday’s closing quotes of 1.0671, 122.52 and 0.8767, respectively.
The euro advanced to 1.0796 against the Swiss franc and 1.4398 against the Canadian dollar, from last week’s closing quotes of 1.0786 and 1.4370, respectively.
Against the Australian and the New Zealand dollars, the euro climbed to more than a 1-month high of 1.4184 and a 4-month high of 1.5454 from Friday’s closing quotes of 1.4151 and 1.5417, respectively.
If the euro extends its uptrend, it is likely to find resistance around 1.08 against the greenback, 124.00 against the yen, 0.89 against the pound, 1.09 against the franc, 1.48 against the loonie, 1.44 against the aussie and 1.56 against the kiwi.
The material has been provided by InstaForex Company – www.instaforex.com