EUR/USD clinches highs near 1.1640 ahead of EMU GDP, Payrolls

• The pair advances to fresh daily highs in the 1.1640 area.
• The greenback looks for direction in the 95.00 neighbourhood.
• EMU’s final Q2 GDP figures next on tap ahead of Payrolls.

The single currency remains bid at the end of the week and is now lifting EUR/USD to fresh daily highs in the 1.1640 area.

EUR/USD looks to data, trade

The pair is extending the sideline theme above the 1.1600 handle so far this week amidst omnipresent US-China trade jitters, EM FX instability and uncertainty around the unresolved Italian budget.

Spot is so far reverting yesterday’s pullback and it has resumed the upside today with immediate target at weekly tops near 1.1660 seen on Thursday.

In the data space, EMU’s final Q2 GDP figures are next on tap, while US Non-farm Payrolls will be the salient event later in the NA session along with speeches by FOMC’s E.Rosengren, L.Mester and R.Kaplan.

EUR/USD levels to watch

At the moment, the pair is up 0.13% at 1.1637 facing the next hurdle at 1.1659 (high Sep.6) seconded by 1.1734 (high Aug.28) and finally 1.1745 (high Jul.31). On the other hand, a break below 1.1508 (low May 29) would target 1.1449 (50% Fibo of the 2017-2018 up move) and finally 1.1299 (2018 low Aug.15).

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