EUR/USD moves to daily highs post-US PCE

The renewed selling interest around the buck is now pushing EUR/USD to test daily highs in the 1.0915/20 band.

EUR/USD bid on US results

Spot regained upside momentum after both US Personal Income and Personal Spending came in short of expectations, expanding at a monthly 0.2% and 0.0% respectively.

Further data saw US inflation figures measured by the PCE contracting at a monthly 0.2% and expanding at an annualized 1.8% during March.

Still in the US, the more relevant ISM Manufacturing is next on tap, with consensus expecting the gauge to ease a tad to 56.5 during the last month, down from March’s 57.2.

EUR/USD levels to watch

At the moment, the pair is up 0.22% at 1.0920 and a break above 1.0949 (high Apr.28) would target 1.0951 (2017 high Apr.25/26) en route to 1.1000 (psychological handle). On the flip side, the immediate support aligns at 1.0850 (low Apr.27) seconded by 1.0836 (200-day sma) and finally 1.0805 (23.6% Fibo of the April rally).