Sales in defensive assets continue, and against this background, you should use the decline in quotes in this currency pair to open Buy positions. The Michigan Institute’s Consumer Confidence Index has renewed its annual maximum, signaling that the US economy is accelerating.

Vaccination of the population is gaining momentum, and budgetary incentives add optimism to households. According to a study by the Michigan Institute, the population is ready to substantially increase spending in the next twelve months. Against this background, investors will buy more risky assets and sell protective assets, which indicates a continuation of the upward trend in this currency pair. I would not be surprised if the psychological level of 110.00 is tested this week.

Investment idea: Buy 109.07/108.85 and take profit 109.45.