The euro has continued to press higher against the U.S dollar overnight, hitting 1.2392, as broad-based weakness in the greenback persists. The EURUSD currently trades around the 1.2370 region, with bullish intraday momentum largely intact whilst the pair trades well above the 1.2332 technical support level. Traders now look to a slew of economic data this morning, with key German January CPI Inflation figures and fourth fiscal quarter Gross Domestic Product numbers from the eurozone.
The EURUSD pair remains intraday bullish whilst trading above the 1.2332 level, further upside towards 1.2400 and 1.2432 seems likely.
Should EURUSD price-action slip back below the 1.2332 level, we may see sellers start to target the1.2290 and 1.2255 support levels.
