EURUSD is trading in the green today as price previously hit the

𝔹𝕖𝕗𝕠𝕣𝕖 𝕪𝕠𝕦 𝕣𝕖𝕒𝕕 𝕥𝕙𝕚𝕤 𝕚𝕕𝕖𝕒, 𝕡𝕝𝕖𝕒𝕤𝕖, 𝕔𝕝𝕚𝕔𝕜 𝕥𝕙𝕖 𝐋𝐈𝐊𝐄 𝐛𝐮𝐭𝐭𝐨𝐧 𝕥𝕠 𝕤𝕦𝕡𝕡𝕠𝕣𝕥 𝕞𝕪 𝕨𝕠𝕣𝕜.
𝕀 𝕨𝕠𝕦𝕝𝕕 𝕒𝕡𝕡𝕣𝕖𝕔𝕚𝕒𝕥𝕖 𝕚𝕥.

The pair is trading in the green today as price previously hit the 200-day moving average, which is serving as a key resistance the breaking of which could mean the price would continue going up. There is no top-tier, high impacting eurozone data in the pipeline, so investors turn to German produce price index, which is a mid-tier release. The data was better than expected, with inflation at wholesale level stagnating at 0% on a monthly basis and slipping -1.3% year-over-year. The data helped support the euro, which is also getting some upside from the imminent signing of the US-China phase one trade deal. The German manufacturing sector has been adversely impacted by the US-China trade row, which has also damaged global confidence and demand. The manufacturing sector has plummeted into a deep contraction. Investors are now optimistic that a good deal between Washington and Beijing could restore global demand lift Germany.