EUR/USD advances to highs near 1.0620

The selling bias around the greenback stays unabated on Wednesday and is now pushing EUR/USD to move to the area of daily tops near 1.0620.

EUR/USD firmer, USD retreats further

After posting two consecutive weeks with losses, the pair has started this week on a more positive tone, retaking the 1.0600 handle and beyond after dropping to the vicinity of 1.0560 during Monday’s session.

The buck, in terms of the US Dollar Index, failed to extend the up move further north of the 101.20 area (Monday’s tops), sparking the ongoing leg lower in response to an increasing offered sentiment in US yields.

Nothing relevant data wise in Euroland today, whereas Export/Import Prices and the speech by Dallas Fed R.Kaplan (voter, hawkish) are only due across the pond.

EUR/USD levels to watch

At the moment the pair is gaining 0.15% at 1.0620 facing the next up barrier at 1.0631 (high Apr.11) followed by 1.0665 (55-day sma) and finally 1.0690 (high Apr.5). On the downside, a break below 1.0568 (low Apr.10) would target 1.0523 (low Mar.9) en route to 1.0493 (low Mar.2).