EUR/USD moves to session highs around 1.0920

The bearish note stays unchanged around the greenback during the first half of the week, with EUR/USD now testing the area of daily highs near 1.0920.

EUR/USD focus on data, risk trends

The pair is extending its upside momentum for the thirds session in a row so far today, always backed by the renewed offered bias around the buck, particularly after disappointing results from the US docket as of late.                                             

EUR stays supported by optimism on a Macron win vs. far-right candidate M.Le Pen at Sunday’s second round of elections in France, with latest polls currently signaling a 60%-40% vote intention for the centrist and pro-EU candidate.

Data wise in Euroland today, the final PMI prints for the month of April stay far from being a market mover, although the speech by ECB’s E.Nowotny on ‘Negative rates: cheap money with expensive consequences?’ could grab some attention from market participants.

EUR/USD levels to watch

At the moment, the pair is gaining 0.14% at 1.0913 and a break above 1.0926 (high May 2) would target 1.0949 (high Apr.28) en route to 1.0951 (2017 high Apr.25/26). On the flip side, the immediate support is located at 1.0850 (low Apr.27) seconded by 1.0835 (200-day sma) and finally 1.0805 (23.6% Fibo of the April rally).