EUR/USD moves to daily highs above 1.1799

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EUR/USD moves to daily highs above 1.1799

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EUR/USD moves to daily highs above 1.1799
The demand for the single currency keeps the recovery well and sound so far on Monday, now lifting EUR/USD to the area of session peaks above 1.1800 the figure.

EUR/USD rebounds from 1.1732

The pair has so managed to reclaim the key barrier at the 1.1879 handle during the EU morning after bottoming out in the 1.1732 area last week.

It is worth mentioning that spot tested fresh lows to the solid report from the US labor capital market for the month of July 2017, which saw the economy creating more jobs than forecasted.

In the meantime, consolidation of an interim top beyond 1.18 the figure seen last week continue traction among market participants. However, the likelihood of ECB ‘tapering’ in the next months, dwindling speculations of another move by the Fed in H2 and market sentiment in general continue to add to the case for a stronger EUR in the upcoming months.

Also EUR futures markets allow the possibility of a correction lower in the near term.

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EUR/USD levels to watch

At the moment, the pair is advancing 0.28% at 1.1801 facing the next hurdle at 1.1894 (high Aug.4) seconded by 1.1911 (2017 high Aug.2) and finally 1.2042 (2012 low Jul.24). On the other hand, a breakdown of 1.1727 (low Aug.4) would target 1.1638 (21-day sma) en route to 1.1611 (low Jul.26).

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EUR/USD moves to daily highs above 1.1799

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