FXStreet (Edinburgh) – The common currency keeps the positive territory today, taking EUR/USD to the area of 1.0820/30.
EUR/USD ignores data, focuses on risk trends
The pair is now looking to consolidate the recent break above the 1.0800 mark, navigating in the low-1.0800s with gains limited so far around 1.0840.
Spot has managed to leave the area of 1.0770 in early trade bolstered by increasing risk aversion after the European open, although its has later succumbed to the lack of volatility in the global markets.
EUR/USD levels to watch
The pair is now advancing 0.19% at 1.0818 and a break above 1.0862 (20-day sma) would target 1.0983 (100-day sma) en route to 1.1059 (high Dec.15). On the flip side, the immediate support aligns at 1.0777 (post-ECB low Jan.21) followed by 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).
(Market News Provided by FXstreet)