EUR/USD advances to 1.1040, daily highs

The selling bias around the greenback is now picking up further pace, lifting EUR/USD to fresh tops in the 1.1030/40 band.

EUR/USD focus on US ISM

The pair gained extra upside momentum after it broke above the psychological barrier at 1.10 the figure today, always backed by an increasing weakness surrounding the buck.

In the meantime, spot keeps the upbeat tone intact so far this week, extending the rebound from recent lows in the mid-1.0800s and facing the immediate hurdle around the 1.1040 area, where is located the spike post-ECB meeting.

Later in the day, US ISM Manufacturing is expected to have improved a tad during October, while Markit’s Manufacturing PMI is also due for release.

EUR/USD levels to watch

The pair is now up 0.44% at 1.1028 with the next hurdle at 1.1041 (post-ECB spike Oct.20) followed by 1.1074 (4-month resistance line) and then 1.1147 (55-day sma). On the other hand, a break below 1.0848 (low Oct.25) would open the door to 1.0820 (low Mar.10) and finally 1.0709 (2016 low Jan.5).