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EUR/USD climbs back closer to 1-month tops, 100-DMA hurdle

   •  The prevalent USD selling bias helps regain positive traction on Friday.
   •  Mostly in-line German Gfk Consumer Climate index remains supportive.
   •  Traders now eye US GDP/durable goods orders data for fresh impetus.

The EUR/USD pair caught some fresh bids on Friday and moved back within striking distance of the overnight swing high, or one-month tops.

After yesterday's retracement from 100-day SMA barrier, the pair regained positive traction on the last trading day of the week and continues to benefit from the prevalent US Dollar selling bias. 

The greenback struggled to preserve/build on its Asian session recovery from one-month lows and continues to be weighed down by renewed fears of an inversion in the yield curve after the not so dovish FOMC outlook.

Meanwhile, the release of mostly in line German GfK Consumer Climate index, coming in at 10.4 for December, remained supportive of the prevalent positive tone surrounding the shared currency.

It would now be interesting to see if the pair is able to build on the positive momentum and make it through 100-day SMA barrier as market focus shifts to a duo of US macroeconomic releases, due later in the day.

Today's US economic docket highlights the release of final Q3 GDP growth figures and durable goods order data, which will be looked upon for some short-term trading impetus.

Technical levels to watch


    Today Last Price: 1.1472
    Today Daily change: 12 pips
    Today Daily change %: 0.105%
    Today Daily Open: 1.146
    Previous Daily SMA20: 1.1356
    Previous Daily SMA50: 1.1388
    Previous Daily SMA100: 1.1487
    Previous Daily SMA200: 1.1698
    Previous Daily High: 1.1486
    Previous Daily Low: 1.136
    Previous Weekly High: 1.1444
    Previous Weekly Low: 1.1269
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.1438
    Previous Daily Fibonacci 61.8%: 1.1409
    Previous Daily Pivot Point S1: 1.1385
    Previous Daily Pivot Point S2: 1.131
    Previous Daily Pivot Point S3: 1.1259
    Previous Daily Pivot Point R1: 1.1511
    Previous Daily Pivot Point R2: 1.1562
    Previous Daily Pivot Point R3: 1.1637

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