EUR/USD firm around 1.0600, USD weaker

The persistent weakness around the greenback is pushing EUR/USD back above the 1.0600 handle during the first half of the week.

EUR/USD stringer on Dollar selling

The pair is extending its positive performance this week, managing to advance above 1.0600 the figure although gains seem so far limited around 1.0630.

In the meantime, the buck remains well offered across the board without any firm catalyst other than some potential jitters ahead of tomorrow’s press conference by US president-elect Donald Trump.

Spot has once again tested (and failed at) last week’s tops in the vicinity of 1.0630 ahead of the spike to the mid-1.0600s seen on December 30, always with the USD dynamics as the exclusive driver behind the price action.

Later in the NA session, the NFIB index is due ahead of the JOLTs Job Openings and Wholesale Inventories. Earlier in the week, EMU’s unemployment rate stayed put at 9.8% in November, while the Sentix index surprised to the upside for the current month.

EUR/USD levels to watch

The pair is now gaining 0.22% at 1.0598 facing the next hurdle at 1.0627 (high Jan.10) followed by 1.0654 (spike Dec.30) and finally 1.0658 (55-day sma). On the other hand, a breakdown of 1.0508 (low Jan.9) would target 1.0475 (20-day sma) en route to 1.0387 (low Jan.4).