- The pair remains rangebound in the mid-1.1600s.
- The greenback stays on the defensive in the 94.70 region.
- US Core PCE rose at a monthly 0.2% for the month of May.
The bid fashion remains intact around the shared currency on Friday, prompting EUR/USD to extend the sideline theme in the upper end of the range in the 1.1650/60 band.
EUR/USD bid post-US data
Spot is adding to yesterday’s gains although a breakout of the key resistance band in the 1.1670 region still remains elusive. This area is reinforced by the key 21-day sma.
The pair kep the composure after US Personal Income rose 0.4% MoM in May, while Personal Spending expanded below estimates 0.2% inter-month during the same period.
Further US data saw Core PCE rising 0.2% MoM and 2.0% over the last twelve months, slightly above consensus.
In the meantime, the better sentiment in the risk appetite trends continue to underpin the current constructive tone around EUR, particularly after the EU clinches a key deal on migration late on Thursday.
EUR/USD levels to watch
At the moment, the pair is gaining 0.66% at 1.1643 facing the next hurdle at 1.1666 (high Jun.29) seconded by 1.1671 (21-day sma) and finally 1.1720 (high Jun.26). On the other hand, a break below 1.1530 (low Jun.19) would target 1.1508 (2018 low May 29) en route to 1.1479 (low Jul.20 2017).
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