EUR/USD well-bid at 1.0460 after final EZ CPI print

The EUR/USD pair held on its recovery gains and touched a fresh session high following the release of Euro-zone CPI print.

Currently trading around 1.0460-65 region, the final print of Euro-zone CPI, and core CPI (excluding the volatile components like food, energy, alcohol and tobacco), for November matched expectations and came-in to show 0.6% and 0.8% y-o-y rise. The data provided some incentive for bulls and assisted the pair to hold on to its recovery gains, having dropped to its lowest level since Jan. 2003 in the previous session. 

Meanwhile, the US Dollar bulls took a breather following its recent up-surge to the highest level in more than 13-year, as investors digested Wednesday's hawkish FOMC statement, and is also supporting the pair’s bid tone on Friday. 

Later during NA session, US housing market data – building permits and housing starts will be looked upon for short-term trading impetus. 

Technical levels to watch

On the upside, sustained momentum above 1.0465 immediate hurdle might trigger a short-covering rally initially towards 1.0500 psychological mark and eventually towards 1.0530-35 strong horizontal resistance. Alternatively, renewed weakness below 1.0400 handle might negate prospects of any near-term recovery, turning the pair vulnerable to break through Thursday's multi-year lows and head towards testing 2003 yearly lows support near 1.0335 region, en-route 1.0300 round figure mark.