EUR/USD back to daily highs

FXStreet (Córdoba) – Following a short-lived pullback, EUR/USD resumed the rise and is back trading at the upper side of today’s range, as investors continue to assess a string of disappointing US data, which fueled concerns the Fed might have to wait longer before raising rates.

EUR/USD rose to its highest level in nearly a month at 1.1447 following the data release, and is back challenging highs at the 1.1440 zone, 0.54% above its opening price. EUR/USD is also on track to post its fourth gain in five days as the greenback continues to weaken amid soft economic data.

EUR/USD levels to watch

In terms of technical levels, next resistances line up at 1.1459 (monthly high Sep 18), 1.1475 (downtrend from May 2014 tops) and 1.1560 (Aug 26 high). On the other hand, immediate supports are seen at 1.1344 (Oct 13 low), 1.1290 (10-day SMA) and then 1.1227 (50-day SMA).

Following a short-lived pullback, EUR/USD resumed the rise and is back trading at the upper side of today’s range, as investors continue to assess a string of disappointing US data, which fueled concerns the Fed might have to wait longer before raising rates.

(Market News Provided by FXstreet)