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EUR/USD flirting with 1.2900

FXStreet (Edinburgh) - The single currency extends its recovery from yesterday’s lows around 1.2820, pushing EUR/USD back to the 1.2900 doorsteps.

EUR/USD boosted by risk appetite

A better risk sentiment is propelling the risk-associated universe at the beginning of he week, interrupting the USD rally and thus bringing some relief to the beleaguered European currency. Next of relevance in the NA session will be the Markit manufacturing PMI (58.0 exp.) and the Housing Price index. “EUR rebounded ahead of the 1.2800 support (low of 1.2816) and the current recovery appears incomplete and could extend towards the strong resistant at 1.2880. Expect 1.2810/15 to hold for today”, noted analysts at UOB Group.

EUR/USD levels to consider

As of writing the pair is advancing 0.38% at 1.2898 with the next hurdle at 1.2929 (high Sep.19) ahead of 1.2931 (high Sep.18) and finally 1.2982 (high Sep.17). On the downside, a break below 1.2843 (low Sep.23) would target 1.2816 (low Sep.22) en route to 1.2800 (psychological level).

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