EUR/USD on its way to challenge highs near 1.1170

The bullish attempt in EUR/USD remains well and sound today, now targeting weekly peaks above the 1.1170 level (Tuesday).

EUR/USD now looks to US ISM

The pair has quickly recovered from the earlier drop to the 1.1110 area, backed by a re-emergence of the risk-off sentiment following a negative start of European equities while the offered tone keeps hurting the greenback.

Poor manufacturing PMIs in the euro area are now out of the way, with market participants shifting their  focus to the releases across the pond, where the ISM Manufacturing will take centre stage ahead of the Fed’s Beige Book.

EUR/USD levels to watch

The pair is now advancing 0.27% at 1.1163 and a breakout of 1.1179 (100-day sma) would target 1.1246 (high May 23) en route to 1.1260 (20-day sma). On the flip side, the next support aligns at 1.1096 (200-day sma) followed by 1.1055 (low Mar.16) and finally 1.0820 (low Mar.10).