EUR/USD clings to gains near 1.1270

The shared currency keeps its buoyancy intact on Friday, with EUR/USD navigating in the 1.1270 region for the time being.

EUR/USD gains capped above 1.1280

After climbing to highs above 1.1280 during the European morning, spot has now deflated to the 1.1270 area, always within a narrow range.

The pair remains on its way to close its first week with gains after two pullbacks in a row, while extending at the same time the rebound from the 1.1140/20 band. Gains however, seem to have found a strong hurdle at the resistance line off 2016 tops, currently at 1.1315.

Nothing relevant data wise in Euroland, with German trade surplus shrinking to €19.4 billion in July, French Industrial Production contracting 0.6% MoM in July and Spanish Industrial Production rising at an annualized 0.3% during the same period.

Across the pond, the only event will be the speech by Boston Fed E.Rosengren (dovish, voter).

EUR/USD levels to watch

The pair is now advancing 0.12% at 1.1272 and a break above 1.1312 (resistance line off 2016 high) would target 1.1329 (high Sep.8) and then 1.1367 (high Aug.18). On the other hand, the immediate support aligns at 1.1241 (20-day sma) ahead of 1.1180 (2014-2016 support line) and finally 1.1138 (200-day sma).