EUR/USD shoots to 1.1030, session tops

FXStreet (Edinburgh) - The shared currency keeps the buoyancy intact on Monday, now lifting EUR/USD to daily highs in the proximity of 1.1030.

EUR/USD stronger as USD deflates

The greenback has quickly deflated to session lows and is currently allowing a modest rebound in the pair to daily peaks in the 1.1025/30 band. Spot has managed to revert the bearish tone that prevailed throughout the session against the backdrop of empty releases in both Euroland and the US.

Next on tap will be the German/EMU ZEW Survey due tomorrow, ahead of the key inflation figures in the US economy gauged by the CPI.

EUR/USD levels to consider

At the moment the pair is up 0.34% at 1.1027 with the next resistance at 1.1041 (high Dec.9) followed by 1.1060 (100-day sma) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). On the other hand, a breakdown of 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).

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