EUR/USD pushes above 1.1180, session tops

The greenback is deflating from Friday’s highs and is now helping EUR/USD to advance to the area of daily highs near 1.1180.

EUR/USD focus on data, risk

The renewed offered bias around the buck has given fresh oxygen to the risk-associated space and prompted spot to recover the ground lost on Friday’s pullback to the mid-1.1100s in the wake of August’s Payrolls (151K).

Ahead in the session final August’s Services PMIs in Euroland are expected ahead of EMU’s Retail Sales during July.

Regarding positioning, speculative EUR longs have climbed to 5-week tops in the week ended on August 30, while Open Interest remained within the recent range.

EUR/USD levels to watch

The pair is now advancing 0.20% at 1.1177 and a break above 1.1201 (2014-2016 resistance line) would target 1.1223 (high Aug.1820-day sma) en route to 1.1269 (23.6% Fibo of June-August up move). On the other hand, the immediate support lines up at 1.1133 (200-day sma) ahead of 1.1121 (low Aug.31) and finally 1.1043 (low Aug.5).