EUR/USD moves to session highs above 1.0900

The now softer tone around the buck is helping EUR/USD to regain the 1.0900 and above, printing fresh daily highs at the same time.

EUR/USD attention to US data, ECB-speak

The pair is reverting yesterday’s drop back by a resurgence of a strong selling bias surrounding the greenback, prompting the US Dollar Index to recede from earlier session highs to the current area just above 99.00 the figure.

Spot visited lows in the 1.0880 area following the upbeat tone from the FOMC meeting on Wednesday despite there was no room for surprises. The Committee left the monetary status quo unchanged although it left the door open for higher rates likely to be announced at the June meeting.,

In the data space, EUR should pay attention to the speeches by ECB’s S.Lautenschlager, P.Praet and Y.Mersch in several events across the euro region. Across the pond, the usual weekly report on the US labour market is due, seconded by Trade Balance figures and Factory Orders during March.

EUR/USD levels to watch

At the moment, the pair is advancing 0.26% at 1.0914 and a break above 1.0937 (high May 3) would target 1.0951 (2017 high Apr.25) en route to 1.1300 (high Nov.9 2016). On the flip side, the immediate support aligns at 1.0880 (low May 3) followed by 1.0850 (low Apr.27) and finally 1.0834 (200-day sma).