EUR/USD rises towards key resistance near 1.0630, awaits US data

Fresh bids emerged for the EUR/USD pair once again just ahead of 1.06 handle, fuelling another upside attempt beyond the last, in an attempt to regain 100-DMA located at 1.0632.

Despite running through fresh buyers, the spot remains confined within the overnight trading range, as a lack of fresh fundamental drivers amid holiday-thinned markets fail to provide any direction to the prices.

Hence, the major eagerly awaits the release of the US retail sales and CPI data, which will throw fresh light on the USD outlook in the coming days, eventually impacting EUR/USD.

Meanwhile, geopolitical developments surrounding the US and North Korea could also have a significant influence on the funding currency Euro.

EUR/USD Technical Levels

Technical resistances for the pair are aligned at 1.0650 (psychological levels), 1.0687/90 (Apr 6 & 5 high) and finally 1.0715 (March 13 high). On the flip side, the spot finds next support at 1.00606/00 (daily low/ key support), a break below that level could open the door to 1.0568 (multi-month lows) and 1.0515/00 (classic S3/ round number).