EUR/USD clings to gains around 1.0800

Pablo Piovano FXStreet

EUR/USD keeps the positive tone alive at the end of the week, posting moderate gains around the 1.0800 handle.

EUR/USD looks to House vote

The pair is reverting two consecutive daily pullbacks on Friday amidst the persistent offered bias in the greenback.

The US Dollar Index has faded the initial spike to daily highs near 99.80 and has now returned to the comfort zone in the mid-99.00s allowing the current rebound in the risk-associated space.

Better-than-expected readings from flash PMIs in France, Germany and the euro bloc for the current month has somewhat supported EUR early in the session, while the upcoming House vote on ‘Trumpcare’ is poised to be the salient point later today.

EUR/USD levels to watch

At the moment the pair is gaining 0.14% at 1.0798 and a break above 1.0825 (high Mar.22) would target 1.0829 (2017 high Feb.2) en route to 1.0873 (high Dec.8 2016). On the downside, the next support lines up at 1.0717 (low Mar.21) ahead of 1.0704 (low Mar.16) and finally 1.0658 (20-day sma).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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