EUR/USD: Upside capped near 1.0675 as DXY regains 100.00

The EUR/USD pair extends its bullish momentum for the fourth straight session, now defending minor-gains near fresh weekly highs scored earlier at 1.0677.

The spot consolidates the overnight rally as the US dollar remains broadly sold-off amid persisting weakness in treasury yields, triggered by Trump’s talking down the US dollar in an interview with the WSJ late-Wednesday. Trump cited, "I think our dollar is getting too strong, and partially that's my fault because people have confidence in me. But that's hurting-that will hurt ultimately.

Also, persisting risk-off trades amid looming geo-political concerns and nervousness ahead of the French elections, continues to support the funding currency Euro. Markets look forward to the European open for fresh momentum, while the immediate focus remains on the German final CPI data due put shortly.

The major will also take cues from the US dataflow, including the PPI, consumer sentiment and jobless claims, due on the cards later in the NA session.

EUR/USD Technical Levels

Technical resistances for the pair are aligned at 1.0687/90 (Apr 6 & 5 high), 1.0733 (Classic R2/ Fib R3) and finally 1.0796 (200-DMA). On the flip side, the spot finds next support at 1.0656/50 (50-DMA/ psychological levels), a break below that level could open the door to 1.0630/24 (100 & 5-DMA) and 1.0600 (key support).