EUR/USD rises to test Monday’s high

The shared currency caught a sudden bid-wave as we stepped into early Europe, taking the EUR/USD pair back towards 1.1200.

EUR/USD re-attempting 1.1200

Currently, EUR/USD trades +0.14% higher at 1.1178, having printed fresh session highs at 1.1181 some minutes ago. The price-action seen in the main currency pair   this Tuesday, is the replica of what we witnessed during early Europe a day before, with the range-play intact below 1.1200 levels.

The EUR/USD pair failed to benefit from renewed weakness in the greenback as the USD bears continue to cheer recent poor US data performances. While above estimates manufacturing PMIs from the Eurozone also did nothing to take the major above 1.12 handle.

In the day ahead, amid a lack of relevant economic news from the Euroland, the major will closely track risk trends ahead of the US core PCE price index and personal spending data due on the cards during the NA session.

EUR/USD Technical Levels             

In terms of technicals, the pair finds the immediate resistance 1.1200 (psychological levels). A break beyond the last, doors will open for a test of 1.1226 (100-DMA). On the flip side, the immediate support is placed at 1.1151/46 (5 & 50-DMA) below which 1.1104 (200-DMA) could be tested.