EUR/USD extends 5-day winning streak, 1.1150 back on sight?

The bid tone behind the EUR got a fresh boost following the release of China’s economic data, driving the EUR/USD pair towards yesterday’s high reached at 1.1166.

EUR/USD eyes 50-DMA at 1.1190

Currently, EUR/USD now advances +0.13% near fresh session highs of 1.1140 reached last minutes, and now heads for a break above 1.1150 barrier. The main currency pair finally broke the overnight consolidation box to the upside and now seems breaking further northwards amid improved risk sentiment, which continues to weigh down the greenback across the board. The USD index drops -0.08% to just ahead of 96 handle, near session troughs.

The EUR/USD pair saw a spike to 1.1166 levels on the BOE’s unchanged policy decision, although retreated sharply to 1.11 handle in the last NA session, wavering in a 30-pips narrow range above the last almost until the release of auspicious Chinese data dump.

All eyes remain on the inflation figures from both continents, while special attention will be paid to the US retail sales and consumer sentiment data for next direction on the buck.

EUR/USD Technical Levels             

In terms of technicals, the pair finds the immediate resistance 1.1187/1.1200 (50-DMA/ round number). A break beyond the last, doors will open for a test of 1.1250 (psychological levels). On the flip side, the immediate support is placed at 1.1104 (20-DMA) below which 1.1088 (200-DMA) could be tested.