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EUR/USD climbs to highs near 1.2520

FXStreet (Edinburgh) - The single currency is extending its momentum above 1.2500 the figure on Thursday, lifting EUR/USD back to the 1.2515/20 band.

EUR/USD focus on German data

Spot is so far succeeding in keeping the trade above the 1.2500 handle during the second half of the week, extending the upbeat tone following poor results from the US economy on Wednesday. Next of note in Euroland will be the unemployment figures in the German economy followed by key inflation figures tracked by the CPI, expected at 0.6% YoY for the current month vs. October’s 0.8%. It is worth recalling that market participants will keep their focus in the euro bloc today, as US markets will remain closed due to the Thanksgiving Day holiday.

EUR/USD levels to watch

As of writing the pair is up 0.04% at 1.2515 with the next resistance at 1.2560 (30-d MA) ahead of 1.2564 (Kijun Sen) and finally 1.2569 (high Nov.21). On the downside, a breach of 1.2490 (10-d MA) would open the door to 1.2443 (low Nov.26) and then 1.2402 (low Nov.25).

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