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Last Updated Date: 21 February 2022 @ 7:01 AM (UTC)
*Please note that all the dates are in GMT time zone

The euro rallied on Monday, taking heart from news of a possible meeting between U.S. President Joe Biden and Russian President Vladimir Putin to discuss the crisis in Ukraine.

Many details remain unclear but the office of French President Emmanuel Macron said the two leaders had agreed in principle to a summit on "security and strategic stability in Europe."

The White House said in a statement that Biden had accepted the meeting "in principle" but only "if an invasion hasn't happened."

The euro climbed 0.35% higher to $1.1362 after it lost some ground in early trade. The risk-friendly Australian dollar gained 0.55%. (Reuters).

The EURUSD market is triggering a short term upturn, looking for attempts to extend rallies and attack the previous swing high peaking levels. A breakout over the 1.1398 swing high signals a stretch to 1.1457. Minor corrective dips should only last 1-2 days at this stage of the drive and likely fight to rebound from 1.1300. A close under 1.1280 is bearish and suggests a secondary selling wave.


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