EUR/USD inching higher, 1.1180 closer
FXStreet (Edinburgh) – The common currency extends its upbeat momentum today, now lifting EUR/USD to the boundaries of 1.1180.
EUR/USD firmer, EMU data on focus
The pair keeps advancing today albeit at a snail pace, extending its recovery from Friday’s troughs near 1.1090 in the wake of the results in the US labour market. Thin trade prevails today in response to the US Labor Day holiday, with markets expected to return to normalcy on Tuesday.
In the data front, EMU’s Sentix index dropped to multi-month lows for the present month, coming in at 13.6. Looking to tomorrow’s docket, key Chinese trade balance figures are due in early trade followed by a revision of the GDP in the euro bloc during the second quarter.
EUR/USD key levels
At the moment the pair is advancing 0.23% at 1.1170 and a breakout of 1.1191 (high Sep.4) would target 1.1243 (high Sep.3) en route to 1.1294 (high Sep.2). On the other hand, the next support lines up at 1.1089 (low Sep.4) followed by 1.1057 (low Aug.12) ahead of 1.1017 (low Aug.20).
The common currency extends its upbeat momentum today, now lifting EUR/USD to the boundaries of 1.1180…
(Market News Provided by FXstreet)