EUR/USD looking to gather traction near 1.1690

• The pair is trading in session highs in the 1.1690 region.
• The greenback remains vulnerable in the 94.45/40 band.
• EMU’s Consumer Confidence, US Philly Fed index next on tap.

Following yesterday's small advance, EUR/USD is now attempting to extend the up move to the area closer to the key 1.1700 milestone, or fresh daily highs.

EUR/USD looks to trade, data

Spot is adding to yesterday’s small gains and trades closer to the key resistance area in the 1.1700 neighbourhood amidst the continuation of the better tone in the risk-associated complex and the offered bias surrounding the greenback.

The pair still remains unable to break above the 1.1745/50 band in a sustainable fashion, therefore risking an extension of the consolidative theme in the upper end of the range.

Looking forward, the European Commission will publish the preliminary print of the Consumer Confidence for the current month. In the US docket, the Philly Fed manufacturing index will be the salient event seconded by Initial Claims and Existing Home Sales.

EUR/USD levels to watch

At the moment, the pair is up 0.14% at 1.1689 and a breakout of 1.1724 (high Sep.14) would open the door to 1.1745 (high Jul.31) and finally 1.1792 (high Jul.9). On the other hand, the next support lines up at 1.1637 (21-day SMA) followed by 1.1526 (low Sep.10) and then 1.1508 (low May 29).