The EUR/USD is now trading around 1.3030, 30 pips down from its daily highs. The pair is still edging higher on the day, by +0.48% (GMT). Earlier, the US CPI and industrial production came in higher than expected, at 2.0% in September and US industrial production grew by 0.4% in September.
The US markets, in earnings season, are edging higher on Tuesday. So are doing the European bourses as they prepare to close for the day. “We continue to suspect that the market will struggle to regain 1.3072. However while under pinned by the 1.2801 3 month uptrend further upside probes remain plausible”, wrote Commerzbank analyst Karen Jones.