EUR/USD upside falters near 1.1180

The selling pressure around the greenback remains unabated so far today, with EUR/USD testing the upper end of the range near 1.1180.

EUR/USD in 5-day peaks

EUR/USD is advancing since Monday (or more than 1% since post-NFP lows on Friday), managing to quickly regain the 1.1100 barrier and set sails for another visit of the 1.1200 neighbourhood, always propped up by a renewed and quite strong resurgence of the selling bias in the US dollar.

There are no scheduled events in Euroland today, while the EIA’s weekly report on crude oil prices and the Federal Budget Balance are only due for release across the pond.

EUR/USD levels to watch

The pair is now advancing 0.50% at 1.1171 and a breakout of 1.1184 (high Jul.5) would target 1.1236 (high Aug.2) and finally 1.1263 (50% Fibo of the May-June down move). On the flip side, the immediate support aligns at 1.1043 (low Aug.5) followed by 1.0950 (low Jul.25) and then 1.0913 (post-Brexit low Jun.24).