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EUR/USD firmer, in highs near 1.1240

FXStreet (Edinburgh) - The European currency keeps the right footing today, taking EUR/USD to the upper bound of the range near 1.1240, or session tops.

EUR/USD propped up by data, focus on US docket

The softer tone around the dollar coupled with positive releases from the German IFO indicator for the month of August keep bolstering EUR today, all ahead of the more relevant US data releases expected later in the day.

In fact, US Initial Claims, New Home Sales and Durable Goods Orders will set the ruled during the NA session on the USD-side, all preceding the significant speech by Chairwoman J.Yellen. Consensus expects Yellen’s tone to be similar to the one that followed the FOMC statement.

EUR/USD levels to watch

As of writing the pair is advancing 0.37% at 1.1227 and a breakout of 1.1239 (high Sep.24) would aim for 1.1330 (high Sep.21) and then 1.1373 (high Sep.14). On the other hand, the next support aligns at 1.1163 (low Sep.24) ahead of 1.1105 (low Sep.23) and finally 1.1089 (low Sep.4).

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