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EUR/USD closer to 1.2500

FXStreet (Edinburgh) - The single currency keeps inching higher at the end of the Asian session, pushing EUR/USD back to the vicinity of 1.2500 the figure.

EUR/USD bolstered by risk

The greenback started the week on the softer camp as markets continues to digest the poor US Payrolls from last Friday (214K), allowing the pair an extension of its recovery from recent ytd lows. Auspicious Chinese data over the weekend showed the trade balance expanding to $45.41 billion during October, surpassing both estimates and September’s print; on the opposite side consumer prices in the Asian giant came in flat on a monthly basis and remained at 1.6% on a year o October. Next of relevance in the euro bloc will be a gauge of the Investor Confidence by the Sentix in index.

EUR/USD levels to watch

The pair is now up 0.19% at 1.2478 with the next resistance at 1.2533 (high Nov.6) ahead of 1.2544 (200-h MA) and finally 1.2554 (10.d MA). On the flip side, a break below 1.2358 (low Nov.7) would expose 1.2342 (low Aug.21 2012) and then 1.2295 (low Aug.20 2012).

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