EUR/USD hits fresh highs below 1.1100 and retreats

EUR/USD  broke above 1.1070 (Asian and European session high) and printed a fresh daily high at 1.1083. The euro failed to climb further and pulled back toward 1.1060/65, where currently trades, 15 pips above the level it had at the beginning of the week.

The pair turned to the upside amid a decline of the US dollar across the board. But the bearish momentum of the US dollar appears to be fading as equity prices in the US turned to the downside.

Price action across the currency market remain limited. EUR/USD has moved all day in a range of less than 50 pips, like other currency pairs.

EUR/USD technical levels

To the upside resistance levels might be located at 1.1080/85 (daily high), 1.1100 (psychological) and 1.1145/50 (July 15 high). On the opposite direction, support could be seen at 1.1057 (20-hour moving average), 1.1035 (daily low) and 1.1000 (psychological / July 8 low).