FXStreet (Edinburgh) – EUR/USD has now reverted the negative mood that has been prevailing since early trade, rebounding from the 1.0860 area to session tops around 1.0910.
EUR/USD stronger on EUR/GBP
The increasing weakness around the British pound and the consequent climb in EUR/GBP is boosting the pair to levels above the 1.0900 handle, showing some signs of life in an otherwise apathetic session.
Previously, spot paid little attention to better-than-expected ZEW Survey results in Germany and slightly higher consumer prices in the euro bloc during December, with market participants showing a cautious trade in light of the upcoming ECB meeting.
EUR/USD levels to watch
The pair is up 0.01% at 1.0902 with the next resistance at 1.0987 (high Jan.15) followed by 1.0997 (100-day sma) ahead of 1.1059 (high Dec.15). On the other hand, a breakdown of 1.0798 (61.8% Fibo of 1.0538-1.1059) would aim for 1.0709 (low Jan.5) and then 1.0538 (low Dec.3).
(Market News Provided by FXstreet)