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).

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