The buying interest stays firm around the European currency during the second half of the week, with EUR/USD now testing session highs near 1.0730.
EUR/USD focus on US data
The pair has reverted yesterday’s retracement and is now challenging weekly highs around 1.0730, always bolstered by the continuation of the selling mood around the US Dollar.
In fact, the demand for the greenback stays subdued following comments by President D.Trump and tepid results from the US calendar. In addition, the lack of traction in US yields keep plotting against any serious attempt of recovery from the buck.
Closer to home, markets keep watching closely the headlines from the upcoming French elections (Sunday), where all four candidates are sharing almost the same vote intentions. Focus, of course, will stay on Le Pen’s performance, which should be key for EUR’s price action in the near term
Today’s empty calendar in the euro area should leave the attention to the releases across the pond: Initial Claims and the Philly Fed Manufacturing Index for the month of April.
EUR/USD levels to watch
At the moment the pair is gaining 0.14% at 1.0726 facing the next hurdle at 1.0737 (high Apr.18) followed by 1.0841 (200-day sma) and finally 1.0905 (high Mar.27). On the flip side, a breach of 1.0686 (20-day sma) would target 1.0659 (55-day sma) en route to 1.0635 (low Apr.18).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.