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EUR/USD attacking the upside, eyes on Sep highs

FXStreet (Guatemala) - EUR/USD is currently trading at 1.1260 with a high of 1.1265 and a low of 1.1227.

EUR/USD was supported overnight while equities were running with the bearish trend of late in risk-off markets, along with bonds, the Yen and safe havens. We have seen a further display of risk aversion while the Nikkei continues to fail and the euro presses on making fresh highs.

EUR/USD data risks

EUR/USD sees a number of data release this week including consumer confidence later today that is expected as unchanged at -7.1. we also have the ECB's Coene and German CPI for September that is expected -0.1% m/m and 0.0% y/y. The ECB's Weidmann will be speaking late afternoon in Germany. Yellen hits the wires again and then we are looking for ADP ahead of the Nonfarm Payrolls.

EUR/USD levels

The major has run up from the top of the cloud at 1.1136 and has eyes on 1.1332, the September 1st high. Up ahead lies further resistance between the 1.1332/73 early and mid-September highs. Karen Jones, chief analyst at Commerzbank suggested that EUR/USD should ideally remain capped by the 1.1440/68 region, where the May, June and current September highs were made.

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