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EUR/USD another bullish attempt to 1.2680

FXStreet (Edinburgh) - EUR/USD managed to leave behind the mid-1.2600s on Monday and is now looking to regain the upper band of the range around 1.2680/1.2700.

EUR/USD bolstered by risk

The good mood around the risk appetite continues to be the main driver behind today’s upside, although the 1.2700 barrier still remains elusive for EUR-bulls. Auspicious results from the Chinese external sector gave extra wings to the risk sentiment at the beginning of the week, allowing the pair to regain ground lost last Friday. Against a backdrop of scarce data releases, later speeches by Praet, Weidmann and Evans will keep traders entertained, ahead of tomorrow’s CPI results in some euro zone members and the ZEW Survey Germany and the euro bloc.

EUR/USD levels to watch

At the moment the pair is up 0.39% at 1.2678 with the next resistance at 1.2698 (high Oct.13) ahead of 1.2716 (high Oct.10) and then 1.2743 (21-d MA). On the flip side, a breakdown of 1.2638 (200-h MA) would expose 1.2605 (low Oct.10) and finally 1.2583 (low Oct.7).

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