The euro has recovered upside trading momentum against the U.S dollar, with price-action trading towards the 1.2060 level, moving ever closer to the 2017 price-high, at 1.2093. Yesterday, the EURUSD pair gave back strong intraday gains, after the United States Manufacturing PMI moved to its highest level since March 2015, briefly boosting the greenback. Wednesday trading will be heavily data driven, as we see the release of German Unemployment data and the U.S ISM Manufacturing report for the month of December.
The EURUSD pair is strongly intraday bullish while trading above the 1.2030 level, further upside towards 1.2093 and 1.2150 remain likely.
Should the EURUSD pair start to move below the 1.2030 level, sellers may push price-action towards the 1.1989 and 1.1958 support zones.
