EUR/USD around highs near 1.1170 on GDP data

The single currency keeps the buoyant tone on Tuesday, with EUR/USD testing highs in the 1.1160/70 band.

EUR/USD looks to US ISM

The pair has reverted a negative session on Monday and it is now posting decent gains in the upper bound of the daily range near 1.1170, always amidst a generalized offered bias around the buck.

Spot briefly tested the key area around 1.1130 at the beginning of the week - where sits the 200-day sma - although sellers failed to push it further south for the time being.

On the data front EMU’s GDP figures showed the euro bloc grew at a seasonally adjusted 0.3% QoQ in Q2 and 1.6% on an annualized basis, matching estimates. Across the Atlantic, ISM Non-manufacturing is expected to have ticked a tad higher to 55.7 during August.

EUR/USD levels to watch

The pair is now advancing 0.14% at 1.1164 and a break above 1.1199 (2014-2016 resistance line) would target 1.1223 (20-day sma) en route to 1.1259 (23.6% Fibo of June-August up move). On the other hand, the immediate support lines up at 1.1135 (200-day sma) ahead of 1.1121 (low Aug.31) and finally 1.1043 (low Aug.5).