EURUSD continues to trend higher, with minimal negative impact from hotter than expected US PPI data (Jun 0.2% m/m vs 0.1% f/c and 0.0% in May).
The latest bull-leg extends into third straight and day pressuring Thursday’s post US CPI spike high (1.0898) which guards pivotal barriers at 1.0919 (Jun 4), 1.0981 (Mar 8) and 1.10 (psychological).
The pair is also on track for the third consecutive weekly gain, with expectations for further upside, should fundamentals remain favorable.
Broken Fibo 76.4% barrier (1.0857) offers initial support, followed by more significant daily cloud top (1.0835)
Res: 1.0900; 1.0919; 1.0981; 1.1000.
Sup: 1.0857; 1.0835; 1.0821; 1.0800.
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