EUR/USD keeps gains near 1.1160, US data eyed

The common currency remains on a firm footing at the end of the week, sending EUR/USD to the 1.1150/60 area ahead of key US data.

EUR/USD now looks to US releases

The pair continues to recover from yesterday’s pullback towards the 1.1130 area, managing to retake the mid-1.1100s ahead of key releases across the pond, with headline Retail Sales expected to rose 0.4% MoM in July and the flash Reuters/Michigan index at 91.5 for the current month.

Previously in Euroland, advanced GDP figures showed the region is seen expanding 0.3% QoQ in the second quarter and 1.6% on an annualized basis, matching prior surveys and also lending extra support to EUR.

EUR/USD levels to watch

The pair is now up 0.12% at 1.1151 and a break above 1.1193 (high Aug.10) would open the door to 1.1236 (high Aug.2) and finally 1.1263 (50% Fibo of the May-June down move). On the flip side, the immediate support aligns at 1.1085 (200-day sma) ahead of 1.1043 (low Aug.5) and then 1.0950 (low Jul.25).