EUR/USD extends the break above 1.1000

By FXStreet FXStreet (Edinburgh) – The common currency is sharply appreciating vs. the greenback on Tuesday, pushing EUR/USD further up following the recent breakout of the 1.10 handle.

EUR/USD focus on ZEW, US CPI

Spot continues its march north during the first half of the week, currently looking to consolidate the recent surpass of the 1.10 handle ahead of the German/EMU ZEW Survey and inflation figures in the US economy.

Market consensus expects German Economic Sentiment to improve to 15.0 during December, while US core consumer prices are expected to have risen at an annual pace of 2.0% during November.

EUR/USD levels to consider

At the moment the pair is up 0.38% at 1.1028 with the next resistance at 1.1061 (100-day sma) followed by 1.1124 (61.8% Fibo of 1.1496-1.0524) and then 1.1266 (76.4% Fibo of 1.1496-1.0524). On the downside, a break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0808 (low Jul.20) and finally 1.0753 (23.6% Fibo of 1.1496-1.0524).
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Source:: FX Street