The EUR/USD pair continues its up movement over optimistic data from Europe, and not so much from the USA.
CPI report in the US came negative on Wednesday the 19th; the speculation in the market lay fears that the upcoming rate hike will lower the inflation rate. Over in Europe, flash consumer confidence improved to -6.8 from -7.1. Manufacturing PMI in Germany improved to 53.2 from 51.8.
From a technical point of view, the recent euro climb looks very solid. In 3 days only, the pair recovered a 5 days decline, and made a new high last seen on May this year.
At the moment, RSI levels are at 70.0, signal overbought, and we will wait for lower prices to consider buying again.
The next important resistance level is at 1.1452.