EUR/USD in Highs above 1.1330 Post-US Data

EUR/USD in Highs above 1.1330 Post-US Data

16 May 2016, 16:12
Roberto Jacobs

EUR/USD in Highs above 1.1330 Post-US Data

The buying interest around the common currency is now gathering further steam, lifting EUR/USD to fresh daily highs in the 1.1330/35 band.

EUR/USD firmer post-US data

The pair grabbed further attention after US NY Empire State index has come in below expectations for the current month at -9.02 vs. 6.50 initially forecasted and 9.56 from the previous month.

In the meantime, spot remains on recovery mode following last Friday’s drop to multi-day troughs in the 1.1280 region.

Later in the session, the NAHB index and TIC Flows are due in the US economy.

EUR/USD levels to watch

The pair is now advancing 0.17% at 1.1332 and a break above 1.1448 (high May 11) would target 1.1615 (2016 high May 3) en route to 1.1713 (high Aug.24 2015). On the other hand, the immediate support lines up at 1.1281 (low May 13) followed by 1.1213 (low Apr.25) and finally 1.1142 (low Mar.24).


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