EUR/USD swings higher near 1.0640, US ISM in focus

The EUR/USD pair found renewed bids just ahead of 1.06 handle, and from there climbed back higher to hit fresh daily highs amid upbeat Eurozone PMIs and negative European stocks.

EUR/USD regains 5-DMA and beyond                                                             

Currently, EUR/USD jumps +0.35% to 1.0630, having posted fresh session highs at 1.0636 some minutes ago. The main currency pair regained poise and swung higher, as the euro received fresh impetus from upbeat Euro area final manufacturing PMI reports and composite jobs data.

Additionally, negative performance seen around the European equities, in wake of Italian referendum jitters also boosted demand for the funding currency euro. While the greenback remains broadly lower, correcting yesterday’s sharp gains backed by OPEC deal-led risk-on rally across the financial markets,

All eyes now remain on the main risk event for today, the ISM manufacturing PMI report, due on the cards later in the NA session. While markets await the US payrolls data due tomorrow for next direction on the major.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0657/69 (Nov 29 & 30 high). A break beyond the last, doors will open for a test of 1.0685 (weekly high) and from there to 1.0700 (round figure). On the flip side, the immediate support is placed at 1.0603 (10-DMA/ session low) below which 1.0561 (Nov 28 low) and 1.0535 (Nov 25 low) could be tested.