EUR/USD stays on the defensive for the 5th consecutive session today, always on the back of the persistent demand for the greenback, which keeps pushing higher to multi-day peaks when tracked by the US Dollar Index (DXY). Extra support for the buck emerged after the Senate passed the tax reform bill earlier in the week, while in line results from the ADP report on Wednesday has also collaborated with the upbeat mood around USD.
The pair is losing 0.05% at 1.1789 facing the next support at 1.1781 (low Dec.6) followed by 1.1765 (55-day sma) and finally 1.1713 (low Nov.21). On the upside, a breakout of 1.1860 (10-day sma) would target 1.1942 (high Dec.1) en route to 1.1962 (high Nov.27).
The pair is losing 0.05% at 1.1789 facing the next support at 1.1781 (low Dec.6) followed by 1.1765 (55-day sma) and finally 1.1713 (low Nov.21). On the upside, a breakout of 1.1860 (10-day sma) would target 1.1942 (high Dec.1) en route to 1.1962 (high Nov.27).
