EUR/USD catches fresh bids, jumps above 1.0900

EUR/USD finally broke its downside consolidation phase, and now is seen marching north above 1.09 handle amid broad USD weakness driven by risk-off market profile.

EUR/USD: 5-DMa at 1.0957 eyed?                                                                    

Currently, EUR/USD trades +0.08% higher at 1.0905, making an attempt towards 5-DMA resistance. The EUR/USD pair caught a fresh bid last hour as a renewed risk-aversion wave gripped markets and weighed on the greenback against its major peers, while at the same time the euro found fresh support from increased demand for funding currencies. 

Markets continued to be driven by risk trends and US dollar price-action after Trump’s victory, while US economic news and Fedspeak will be also eyed amid low volumes and minimal volatility  as North American markets remain closed on account of a public holiday.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0957 (5-DMA). A break beyond the last, doors will open for a test of 1.0975 (20-DMA) and from there to 1.1000 (round figure). On the flip side, the immediate support is placed at 1.0865 (Nov 10 low) below which 1.0848 (multi-month low) and 1.0820 (March low) could be tested.

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