- The pair keeps the positive note near 1.1750.
- The greenback remains offered and navigates session lows near 93.70.
- US April’s Factory Orders and Durable Goods Orders coming up next.
The positive sentiment around the shared currency stays unchanged at the beginning of the week and is now lifting EUR/USD to the 1.1740/50 band, or daily highs.
EUR/USD up on USD-selling, looks to data
The softer tone around the greenback continues to sustain the up move in spot to fresh multi-day peaks in the 1.1750 region on Monday.
The pick up in the risk-on mood following May’s Non-farm Payrolls figures published on Friday (223K) has given extra legs to the shared currency, while less auspicious news from the US-China/US-EU trade conflicts appears to have removed some optimism from the buck’s prospects for the time being.
Data wise in Euroland, the Sentix index came in below expectations and previous reading for the month of June, while Producer Prices in the region disappointed initial estimates in April.
In the US data space, April’s Factory Orders and Durable Goods Orders are next on tap.
EUR/USD levels to watch
At the moment, the pair is gaining 0.57% at 1.1726 facing the immediate up barrier at 1.1745 (high Jun.4) seconded by 1.1769 (21-day sma) en route to 1.1830 (high May 22). On the flip side, a breakdown of 1.1617 (low Jun.1) would target 1.1511 (2018 low May 29) en route to 1.1479 (low Jul.20 2017).
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