Investing.com - The euro rose to five-week highs against the U.S. dollar on Thursday, as investors eyed the European Central Bank's upcoming policy statement, expected later in the trading session.
EUR/USD hit 1.3640 during late Asian trade, the pair's highest since October 31; the pair subsequently consolidated at 1.3628, rising 0.25%.
The pair was likely to find support at 1.3564, the low of November 28 and resistance at 1.3703, the high of October 18 and a multi-month high.
The ECB was widely expected to hold off any fresh policy action later Thursday, but comments by central bank president Mario Draghi will be closely watched for indications on the ECB's future policy moves.
The euro found some support on Wednesday after Markit research agency said that the euro zone's final services purchasing managers' index inched up to 51.2 in November, up from a preliminary reading of 50.9 and compared to 51.6 in October.
Investors were also eyeing the release of a key U.S. jobs report on Friday, after a string of positive data over the week added to expectations the Federal Reserve will soon begin tapering its montly asset purchases.
The euro was also higher against the pound, with EUR/GBP adding 0.17% to 0.8312.
Later in the day, the U.S. was to publish a revised estimate of third quarter gross domestic product, as well as the weekly report on initial jobless claims and data on factory orders.
EUR/USD hit 1.3640 during late Asian trade, the pair's highest since October 31; the pair subsequently consolidated at 1.3628, rising 0.25%.
The pair was likely to find support at 1.3564, the low of November 28 and resistance at 1.3703, the high of October 18 and a multi-month high.
The ECB was widely expected to hold off any fresh policy action later Thursday, but comments by central bank president Mario Draghi will be closely watched for indications on the ECB's future policy moves.
The euro found some support on Wednesday after Markit research agency said that the euro zone's final services purchasing managers' index inched up to 51.2 in November, up from a preliminary reading of 50.9 and compared to 51.6 in October.
Investors were also eyeing the release of a key U.S. jobs report on Friday, after a string of positive data over the week added to expectations the Federal Reserve will soon begin tapering its montly asset purchases.
The euro was also higher against the pound, with EUR/GBP adding 0.17% to 0.8312.
Later in the day, the U.S. was to publish a revised estimate of third quarter gross domestic product, as well as the weekly report on initial jobless claims and data on factory orders.