EUR/USD buoyant near 1.0880

The single currency keeps the positive tone during the European morning, taking EUR/USD to the upper end of the daily range in the 1.0880/90 band.

EUR/USD looks to EC, ECB

Spot is advancing for the first time since Monday, after being rejected from YTD tops beyond the psychological 1.1000 handle following Macron’s win at the second round of the French elections.

The pair seems to have found some decent support around weekly lows at 1.0850 seen on Wednesday, always amidst a strong pick up in the sentiment around the buck after the US Dollar Index bottomed out in the 98.30 area at the beginning of the week, or fresh 2017 lows.

In the data space, the ECB’s Economic Bulletin is due in Euroland seconded by the publication of the Economic Forecasts for the region by the European Commission.

Across the pond, the weekly report on Initial Claims is due along with April’s Producer Prices and speeches by Chicago Fed C.Evans (voter, centrist) and New York Fed W.Dudley (permanent voter, centrist).

EUR/USD levels to watch

At the moment, the pair is advancing 0.19% at 1.0888 and a break above 1.0900 (high May 10) would target 1.0916 (23.6% Fibo of the April-May rally) en route to 1.0935 (high May 9). On the flip side, the next support aligns at 1.0851 (low May 10) seconded by 1.0850 (38.2% Fibo of the April-May rally) and finally 1.0828 (200-day sma).