EUR/USD stays bid around 1.2330 ahead of US docket

• The pair keeps the upside bias today above the 1.2300 handle.
• The US Dollar continues to hover over the key 90.00 milestone.
• Later in the NA session, US housing sector data and Consumer Sentiment will be in the limelight.

The softer tone around the buck is now helping EUR/USD to move to the area of daily highs in the 1.2335/40 band.

EUR/USD now looks to US data

The greenback continues to fade yesterday’s strong rebound above the 90.00 mark when tracked by the US Dollar Index (DXY), bolstering at the same time the ongoing recovery in the pair to the vicinity of the 1.2340 zone.

In the meantime, the pair stays sidelined in the lower end of the weekly range after two consecutive daily pullbacks, all amidst alternating risk appetite trends stemming from the US political arena and renewed geopolitical concerns involving Russia, the UK, Germany, France and the US.

Data wise earlier today, EMU’s final February inflation figures matched the preliminary readings, as widely expected. Across the pond, February’s Housing Starts and Building Permits are next on tap, seconded by Industrial/Manufacturing Production and the advanced gauge of Consumer Sentiment.

EUR/USD levels to watch

At the moment, the pair is gaining 0.16% at 1.2325 and a break above 1.2446 (high Mar.8) would target 1.2537 (high Jan.25) en route to 1.2557 (2018 high Feb.18). On the flip side, the next support aligns at 1.2273 (low Mar.9) seconded by 1.2206 (low Feb.9) and finally 1.2165 (low Jan.18).