FXStreet (Edinburgh) – The common currency keeps pushing higher on Wednesday, sending EUR/USD to fresh daily highs in the mid-1.0900s.
EUR/USD remains bid above 1.09
Spot remains on a buoyant tone in the mid of the week, sustained by the renewed selling interest around the US dollar. In fact, after an ephemeral test of sub-1.0800 levels on Monday, the pair has regained upside momentum and is now trading closer to post-ECB tops in the 1.0980 area.
Data wise in Euroland, German trade surplus has widened more than estimated during October despite the 1.2% drop in exports. Nothing worth mentioning from across the pond, although the EIA weekly report on crude inventories will grab attention amidst the ongoing slump in crude oil prices.
EUR/USD levels to consider
At the moment the pair is up 0.41% at 1.0939 with the next hurdle at 1.0983 (high post-ECB Dec.3) ahead of 1.1032 (200-day sma) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). On the other hand, a break below 1.0753 (23.6% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13).
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(Market News Provided by FXstreet)