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EUR/USD firmer, 1.1300 on sight

FXStreet (Edinburgh) - The shared currency is extending its upside momentum on Tuesday, now lifting EUR/USD to daily highs around 1.1280.

EUR/USD propped up by risk aversion

Spot is advancing for the second consecutive session so far and flirting with weekly peaks in the vicinity of 1.1300 the figure, all against a backdrop of increasing risk-off trade.

The ongoing upside will remain under pressure however, in light of the releases in the euro area: Economic Sentiment and Consumer Confidence and in the German economy, where preliminary inflation figures are will see the light later.

EUR/USD levels to watch

As of writing the pair is up 0.28% at 1.1276 with the next resistance at 1.1296 (high Sep.24) followed by 1.1330 (high Sep.21) and finally 1.1349 (high Sep.11). On the flip side, a breakdown of 1.1227 (low Sep.29) would aim for 1.1146 (low Sep.28) and then 1.1105 (low Sep.23).

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