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EUR/USD has 1.2580 in the crosshairs

FXStreet (Edinburgh) - The shared currency keeps pushing higher now, lifting EUR/USD to the doorsteps of 1.2570.

EUR/USD choppy, assaulting highs

The EUR is warming up for an assault to earlier peaks in the 1.2580 neighbourhood, gathering further traction following the better-than-expected CPI results and the drop in the manufacturing PMI to 54.7 in the US economy. Next of note in the euro area will be a gauge of the Consumer Confidence in the bloc, with consensus expecting an improvement to -10.7 from -11.1 from the previous month.

EUR/USD levels to consider

As of writing the pair is up 0.16% at 1.2660 and a breakout of 1.2596 (30-d MA) would aim for 1.2602 (high Nov.19) and then 1.2614 (low Oct.23). On the flip side the immediate support lines up at 1.2485 (10-d MA) ahead of 1.2483 (200-h MA) and finally 1.2442 (low Nov.18).

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