The EUR/USD pair is trading around 1.2250 after reaching a fresh 2020 high at 1.2258, poised to extend its advance towards 1.2300 as the greenback keeps falling after mixed US data.
Mixed US data keep the EUR/USD pair running, as the US has just published encouraging housing data but tepid employment-related figures. Initial Jobless Claims for the week ended December 11 jumped to 885K, worse than anticipated. The December Philadelphia Fed Manufacturing Survey contracted to 11.1 from 26.3. On a positive note, Housing starts were up in November by 1.2%, while Building Permits increased by 6.2%. Euro/dollar has an immediate resistance level at 1.2260, with a break above it anticipating additional gains ahead, despite the overbought conditions.