EUR/USD remains bid, parked around 1.2050

The bid tone around the single currency remains unchanged at the end of the week, with EUR/USD now steady in the mid-1.2000s.

EUR/USD upside now targets 1.2167

The pair’s stance remains bullish despite the ECB attempted to warn markets against the strong appreciation of the shared currency, which has gathered extra traction particularly since the ECB Forum in Sintra (Portugal).

The upside in spot has been fuelled by the renewed and strong selling pressure around the greenback in recent sessions, which recorded fresh 33-month lows in the 91.60 region when tracked by the US Dollar Index earlier in the day.

In the data space, US wholesale inventories and the speech by Philly Fed P.Harker (voter, hawkish) are only expected across the pond.

EUR/USD levels to watch

At the moment, the pair is gaining 0.29% at 1.2057 and a break above 1.2092 (2017 high Sep.6) would expose 1.2100 (psychological level) and finally 1.2167 (50% Fibo of the 2014-2017 drop). On the downside, the immediate support lines up around 1.1944 (10-day sma) seconded by 1.1864 (10-day sma) and then 1.1823 (low Aug.31).