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FXStreet (Edinburgh) - The European currency is now shedding part of earlier gains, sending EUR/USD back to the 1.0865/60 band.
EUR/USD capped by 1.09, eyes on Eurogroup
The pair’s upside remains alive on Friday although it lost some vigour in the vicinity of 1.0900 the figure. However, the upbeat tone seems far from abating, with spot navigating 2-week tops and optimism growing bigger amongst traders regarding a EU-Greece deal.
Data wise in Euroland, the German IFO indicator came in mixed for the current month, showing improvement in both Economic Sentiment and Business Climate, while the Expectations component missed consensus. Next of relevance in the pair will be US Durable Goods Orders, expected to have expanded 0.6% during March.
EUR/USD levels to watch
At the moment the pair is gaining 0.39% at 1.0866 with the next hurdle at 1.0901 (high Apr.24) ahead of 1.0914 (76.4% of 1.1036-1.0521) and then 1.0955 (high Apr.7). On the downside, a breach of 1.0769 (21-d MA) would open the door to 1.0730 (10-d MA) and finally 1.0666 (low Apr.23).