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EUR/USD jumps to fresh session highs at 1.2981/88

FXstreet.com (Barcelona) - The EUR/USD sailed higher Friday, receiving an impetus that drove the pair towards the heights of 1.2981/88 in these moments, establishing session highs.

Earlier today in Germany, the IFO – Business Climate (May) has yielded a figure of 105.7, against expectations of 104.5. In addition, the IFO – Current Assessment revealed 110.0 in May, vs. a projection of 107.2. Finally, IFO – Expectations (May) was reported at 101.6, matching its consensus of 101.6.

At the time of writing, the EUR/USD has is trading positively +0.36% during European trading. Mataf.net analysts point to resistive means for the EUR/USD at 1.2974, onto 1.3033, and ultimately 1.3019. Conversely, a break below the 1.2839 mark will initiate short-term supports at 1.2763 and 1.2704.

According Tor Vollaløkken, at Coaching FX Traders, “My short-term outlook for the EUR/USD is to be a bit choppy around 1.3000, while I see the broader range of 1.2750-1.3250 to be in place medium-term.”

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