EUR/USD stuck around 1.1250

The single currency keeps its daily gains vs. a weaker dollar, with EUR/USD sticking to the daily range around 1.1250 for the time being.

EUR/USD up on USD selling

The pair has gained over a cent since yesterday’s troughs in the 1.1130 region following a pick up in the offered tone around USD, which continues to shed ground after recent multi-day tops when tracked by the US Dollar Index.

EUR’s upside remains underpinned by a mild bias towards the risk-on trade in response to alleviated fears on a potential ‘Brexit’ scenario at next week’s EU-UK Referendum.

In the data space, EMU’s Current Account surplus has widened to €36.2 billion during April vs. €26.3 billion in the previous month, while Wages in the euro area rose at an annualized 1.8% during Q1. Across the pond, US Housing Starts and Building Permits are also expected.

EUR/USD levels to watch

The pair is now advancing 0.23% at 1.1252 and a break above 1.1309 (55-day sma) would target 1.1366 (trendline from 1.1617) and then 1.1417 (high Jun.8). On the other hand, the immediate support aligns at 1.1131 (low Jun.16) followed by 1.1100 (200-day sma) and finally 1.1096 (low May 30).