EUR/USD printing highs near 1.1140

The common currency is now gathering further traction, sending EUR/USD to test daily highs in the 1.1140 region.

EUR/USD looks to US ISM

The pair has reverted yesterday’s pullback to the 1.1020 area backed by a renewed selling pressure around the greenback, which is now testing session lows when measured by the US Dollar Index.

Better-than-expected final manufacturing PMIs in Germany and the EMU during June have been also sustaining the upside momentum in spot, which now targets weekly tops in the mid-1.1100s.

Ahead in the session, US ISM Manufacturing is taking centre stage seconded by Markit’s manufacturing PMI and the speech by FOMC’s L.Mester.

EUR/USD levels to watch

The pair is now up 0.30% at 1.1138 facing the next hurdle at 1.1155 (high Jun.30) followed by 1.1235 (20-day sma) en route to 1.1276 (55-day sma). On the flip side, a break below 1.0913 (post-Brexit low Jun.24) would open the door to 1.0820 (low Mar.10) and finally 1.0709 (low Jan.5).