EUR/USD firmer, upside testing the 1.1150 area

The relentless selling pressure around the greenback has allowed EUR/USD to advance to daily highs in the 1.1150/60 band on Wednesday.

EUR/USD boosted by USD-sell off

EUR/USD has seen its upside rapidly accelerated in response to a continuation of the offered tone around the US dollar, managing to break the key 1.1100 barrier on a more sustainable basis for the time being.

Nothing scheduled on the data front in Euroland today, although the broader risk appetite trends are poised to remain the exclusive catalysts for the pair’s price action.

EUR/USD levels to watch

The pair is now advancing 0.32% at 1.1151 and a breakout of 1.1184 (high Jul.5) would open the door to 1.1236 (high Aug.2) and finally 1.1263 (50% Fibo of the May-June down move). On the flip side, the immediate support aligns at 1.1043 (low Aug.5) followed by 1.0950 (low Jul.25) and then 1.0913 (post-Brexit low Jun.24).