EUR/USD firmer around 1.1170 ahead of PMIs

The single currency is trading on a firm footing at the end of the week, taking EUR/USD to the area of daily highs around 1.1170.

EUR/USD attention to PMIs

Spot is reverting part of yesterday’s pullback as the greenback’s upside continues to struggle to gather further traction beyond the 97.50 area when tracked by the US Dollar Index (DXY).

Choppy performance of the pair so far, although it remains on its way to close the week in the red territory. In the meantime, it looks to stabilize in the mid-1.1100s after being rejected from the boundaries of 1.1300 the figure earlier in the month.

Looking ahead, advanced PMIs in Euroland should keep investors entertained during the European morning.

Later in the NA session, Markit’s manufacturing/services PMI, new home sales and speeches by St. Louis Fed J.Bullard (2019 voter, centrist), Cleveland Fed L.Mester (2018 voter, hawkish) and J.Powell (permanent voter, centrist).

EUR/USD levels to watch

At the moment, the pair is up 0.14% at 1.1168 facing the next up barrier at 1.1202 (20-day sma) seconded by 1.1296 (2017 high Jun.14) and finally 1.1300 (high Nov.9). On the other hand, a breakdown of 1.1130 (low Jun.15) would target 1.1108 (low May 30) en route to 1.1073 (76.4% Fibo of 1.1300-1.0339).