EUR/USD side-lined around 1.0900, US data eyed

The Asian bearish consolidation seen in the EUR/USD pair extends into early Europe this Thursday, as the investors remain on the side-lines ahead of the key economic releases from the US.

EUR/USD: Downside capped by 5-DMA at 1.0892

Currently, EUR/USD trade -0.09% lower at 1.0898 levels, flirting with daily lows previously posted at 1.0892. The main currency pair is seen trading around a flat-line in the early European morning, with markets now awaiting key US fundamentals drivers for next direction.

The US unemployment claims, durable goods and pending home sales data will be lined up for release later in the US session, which will be closely eyed for fresh insights on the US interest rates policy.

In the meantime, the major will track the USD price-action, as recent ECB headlines will also continue to remain on the investors’ minds.  Reuters quoted central bank’s sources noting that the ECB is almost certain to keep buying bonds beyond March.  

Meanwhile, the USD index edges +0.08% higher at 98.67, consolidating the retreat from daily tops.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0927 (10-DMA). A break beyond the last, doors will open for a test of 1.0947 (Oct 27 high) and from there to 1.1000 (key resistance). On the flip side, the immediate support is placed at 1.0850 (psychological levels) below which 1.0820 (March lows) and 1.0800 (round figure) could be tested.