EUR/USD flirting with highs near 1.1850, US CPI eyed
|The European currency is trading on a firm note at the end of the week, lifting EUR/USD to the area of daily tops in the mid-1.1800s.
EUR/USD looks to US CPI, retail sales
The pair is recovering part of the ground lost following Thursday’s pullback, as the greenback appears offered early in the session ahead of today’s critical releases.
Spot keeps the upbeat tone so far this week however, reverting at the same time two consecutive weeks with losses and managing well to extend the rebound from recent lows in the 1.1670/65 band.
Looking ahead, US inflation figures tracked by the CPI will be the salient publication today, seconded by the always-relevant retail sales and the advance gauge of the consumer sentiment by the Reuters/Michigan index for the current month.
EUR/USD levels to watch
At the moment, the pair is up 0.14% at 1.1845 and faces the initial resistance at 1.1911 (high Aug.2) followed by 1.2033 (high Sep.20) and finally 1.2094 (2017 high Sep.8). On the other hand, a break below 1.1777 (10-day sma) would target 1.1686 (low Oct.6) en route to 1.1662 (low Aug.17).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.