The euro logged gains as the US dollar fell. The currency pair, although a bit volatile, was trading near the previously established highs. Economic data from the eurozone was sparse.
This left most of the heavy lifting to the US data. A mixed bag of reports kept the USD subdued as a result.
EUR/USD Could Retest Resistance at 1.1177
The currency pair recovered from the sell-off earlier this week and posted a strong rebound. This pushed the prices close to the resistance level of 1.1177.
Previous attempts to test this resistance level saw the EURUSD falling short before reversing. If the current momentum prevails, the EURUSD could hopefully test this resistance level more firmly.
