EUR/USD prints fresh 3-day highs above 1.0930

EUR/USD rose further and printed a fresh 3-day high at 1.0933 during the American session. Then it pulled back modestly and it was trading at 1.0920, up 60 pips for the day, headed toward the first positive close since the beginning of the week. 

The pair gained momentum after US economic data that triggered a decline of the US dollar in the market. The report also boosted US Treasuries. The 10-year yield fell from 2.38% to 2.32%, the sharpest decline in weeks and kept the US dollar under pressure. Also a stronger euro is giving support to the pair. The euro is among the top performers in the market. 

US: Advance estimates of U.S. retail and food services sales for April were $474.9 billion, an increase of 0.4%

US April CPI confirms March “transitory” decline - Wells Fargo

UoM Consumer Sentiment: May figure nearly identical with the December to May average of 97.4

Technical levels

Today’s rebound after four days of losses is taking place from the 20-day moving average that stands at 1.0850. A daily close significantly below could damage the bullish technical outlook. 

To the upside, resistance levels might be located at 1.0935 (daily high), 1.0950 (Apr 25 high) and 1.0990 (May 4 high).