EUR/USD finds support near 1.1210 ahead of US data

The EUR/USD pair remains better in the European session, making another attempt towards daily tops reach earlier at 1.1235.

EUR/USD bounces-off 5-DMA at 1.1213

The spot failed once again to sustain at higher levels and reverts to test the 5-DMA support, as sentiment towards the US dollar somewhat improved heading into the US economic releases due later in the NA session today. The USD index regains 97 handle, having paused its downslide at 96.95.

However, the spot appears to regain poise amid risk-off trades prevalent in the markets, which underpin the funding currency Euro. Meanwhile, renewed weakness in the US yields also lends support to the spot

All eyes now remain on the US durable goods and prelim GDP data for next direction. Poor US economic releases could help the EUR/USD pair finally take-out 2017 tops reached at 1.1268 levels.

EUR/USD Technical Levels

Valeria Bednarik at FXStreet noted: “From a technical point of view and in the short term, the pair presents a modest upward potential, as despite indicators head higher above their mid-lines, the price is barely holding above a horizontal 20 SMA, trapped between its early week range. The pair topped at 1.1267, also this year's high, the level to surpass to confirm additional gains towards 1.1300 first, and 1.1345 later. Below 1.1160 the pair can retreat further, with the next intraday supports at 1.1120 and 1.1080.”