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EUR/USD holds above 1.2900 after US data

FXstreet.com (Córdoba) - The euro holds onto gains barely above the 1.2900 level against the dollar after the latest string of US data, including the Markit manufacturing PMI and housing price index, came in higher than expected.

EUR/USD rose to retest highs at the 1.2915 area after the data, but lacked momentum to break decisively above that level. At time of writing, EUR/USD is trading at the 1.2905 zone, where it posts a 0.4% daily gain.

If EUR/USD breaks decisively above 1.2915, next resistances could be found at 1.2960 (intraday level May 22) and 1.3000 (psychological level/200-day SMA), while on the other hand supports are seen at 1.2820 (daily low) and 1.2800 (psychological level).

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