EUR/USD picks up momentum and makes fresh daily highs

Ani Salama FXStreet

EUR/USD managed to resume the advance during the American session, although it remains within previous day’s range as moves lack follow-through.

With liquidity getting thinner heading into the weekend, the euro picked up pace and advanced to a fresh daily peak of 1.1239, where the 100-week SMA capped the upside in recent dealings. At time of writing, EUR/USD is trading at 1.1235, up 0.29% on the day and on track for a 0.75% weekly gain.

Earlier on Friday, mixed manufacturing data from the Eurozone kept the shared currency depressed, although immediate focus remains on the upside after the Federal Reserve offered no clear signs of an imminent rate hike this year.

EUR/USD levels to consider

In terms of technical levels, immediate resistances are seen at 1.1256 (Sep 22 high), 1.1283 (Sep 15 high), 1.1326 (Sep 8 high) and 1.1365 (Aug 18 high). On the flip side, supports could be found at 1.1190 (100-day SMA), 1.1150 (200-day SMA) and 1.1122 (Aug 31 & Sep 21 low).

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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