EUR/USD reaches fresh 6-week highs

Ani Salama FXStreet

EUR/USD managed to climb above the 1.12 mark and reached fresh post-Brexit highs during the New York session, as the greenback weakened slightly following the release of US personal spending/income data.

EUR/USD rose to a fresh 6-week high of 1.1215, but lost momentum and steadied just below. At time of writing, the pair is trading at 1.1210, recording a 0.45% gain on the day.

Even though economic data has become more relevant as investors assess the likelihood of a rate hike by the Fed before the year end, latest releases are having little, if any, impact on the dollar ahead of the eagerly awaited US nonfarm payrolls report due on Friday.

EUR/USD levels to watch

In terms of technical levels, next resistances are seen at 1.1236 (100-day SMA), 1.1300 (psychological level) and the 1.1340/50 zone (Jul 21 & 22 highs). On the other hand, supports could be found at 1.1152 (50-day SMA), 1.1076/72 (200-day SMA/Jul 29 low) and 1.1052 (Jul 28 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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