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  • Spot climbs to 3-day tops in the 1.1400 neighbourhood.
  • The greenback tumbles to lows near 96.40.
  • US ISM Manufacturing next of relevance in the calendar.

EUR/USD is extending the upside momentum to the 1.1400 region so far on Thursday, clinching at the same time fresh 3-day peaks.

EUR/USD now focused on US data

The pair is recovering part of the recent sharp losses to the boundaries of 1.1300 the figure on Wednesday, always on the back of a strong selling sentiment hitting the greenback.

The better tone in the riskier assets remains propped up by rising optimism (wishful thinking?) over a potential Brexit deal at some point later in the month, as per recent comments by UK’s negotiator D.Raab.

Looking ahead, the buck should be in centre stage in light of the publication of the manufacturing gauge by the ISM. Earlier in the day, Initial Claims rose 214K WoW, Unit Labor Costs rose 1.2% QoQ in Q3 and Nonfarm Productivity expanded 2.2% QoQ during the same period.

EUR/USD levels to watch

At the moment, the pair is up 0.65% at 1.1386 facing the next hurdle at 1.1416 (high Nov.1) seconded by 1.1467 (21-day SMA) and finally 1.1550 (high Oct.22). On the other hand, a break below 1.1302 (low Oct.31) would target 1.1299 (2018 low Aug.15) en route to 1.1118 (monthly low Jun.20 2017).