EUR/USD Keeps Gains on US Data

EUR/USD Keeps Gains on US Data

31 May 2016, 15:02
Roberto Jacobs

EUR/USD Keeps Gains on US Data

The common currency remains on the positive territory following today’s US releases, with EUR/USD meandering the mid-1.1100s.

EUR/USD muted on data

Spot has practically ignored the releases in the US calendar, where Personal Spending has bettered initial estimates and Personal Income and inflation figures tracked by the PCE have matched consensus during April.

The pair clings to its gains so far, albeit retreating from earlier peaks near 1.1160, trading in a cautious tone and amidst an offered bias surround the greenback.

Later in the NA session, CB’s Consumer Confidence and the Chicago PMI are expected to come in on the strong side.

EUR/USD levels to watch

The pair is now advancing 0.07% at 1.1147 facing the next resistance at 1.1178 (100-day sma) followed by 1.1246 (high May 23) and finally 1.1258 (20-day sma). On the flip side, a breakdown of 1.1096 (200-day sma) would target 1.1055 (low Mar.16) en route to 1.0820 (low Mar.10).


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