EUR/USD close to daily highs near 1.1950, US data eyed

The bid tone around the single currency stays firm at the end of the week, now taking EUR/USD to the area of daily highs in the mid-1.1900s.

EUR/USD attention to US data

The pair is prolonging its rebound from yesterday’s weekly lows in the 1.1840 area, gaining over a cent already and putting under pressure the interim resistance around 1.1950, where sits the 10-day sma.

On the other hand, the greenback remains under pressure despite inflation figures came in above expectations during August, breaking below the key support at 92.00 the figure and giving extra oxygen to the rest of the risk-associated space.

In the meantime, the pair keeps the focus on yields in the US and German money markets, where the 10-year benchmark are navigating multi-week tops above 2.20% and 0.44%, respectively.

Ahead in the session, US retail sales and flash consumer sentiment are due later and will surely keep the focus on the buck.

EUR/USD levels to watch

At the moment, the pair is up 0.23% at 1.1947 and a break above 1.1995 (high Sep.13) would target 1.2041 (high Sep.11) and finally 1.2092 (2017 high Sep.6). On the flip side, the immediate support aligns at 1.1830 (5-month support line) followed by 1.1823 (low Aug.31) and finally 1.1733 (55-day sma).

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