• EUR/USD keeps the trade in the upper end of the range.
• German 10y Bund yields return to the positive territory near 0.02%.
• US ISM Manufacturing PMI next of note in the US docket.

The single currency keeps the upbeat note intact so far in the session and motivates EUR/USD to navigate near recent peaks in the 1.1270/80 band on Tuesday.

EUR/USD now looks to US data

The persevering offered stance in the dollar continues to sustain the quite strong upside momentum in EUR/USD, which already trades in 4-day highs near 1.1280, an area coincident with the 10-day SMA.

The decline in the buck comes amidst another negative session in US yields vs. the mixed performance in the German money market, where yields of the key 10y Bund alternates gains with losses near 0.02%.

Furthermore, positive releases in the domestic docket also lend legs to the pair ahead of the key US ISM Manufacturing PMI and the final Markit’s Manufacturing PMI due later in the NA session.

EUR/USD levels to watch

So far, spot is gaining 0.32% at 1.1268 and faces the next up barrier at 1.1278 (weekly high Feb.1) seconded by 1.1304 (55-day SMA) and finally 1.1369 (high Jan.20). On the other hand, a break below 1.1121 (2022 low Jan.28) would target 1.1100 (round level) en route to 1.1000 (psychological level).