EUR/USD through 1.1200, dollar plummets

EUR/USD gained further upside traction and advanced to fresh daily highs above the key barrier at 1.1200 the figure.

EUR/USD looks to data, Powell

Spot regained the 1.1200 handle and clinched 2-day highs at the same time following a rising selling pressure hitting the US dollar in spite of the better-than-expected results from Durable Goods Orders and Initial Claims.

The greenback, gauged by the US Dollar Index, intensified its downside on a break below the critical support at the 95.00 handle, giving extra oxygen to the pair ahead of US Pending Home Sales and the speech by Federal Reserve Governor J.Powell.

EUR/USD levels to watch

The pair is now advancing 0.51% at 1.1211 and a break above 1.1246 (high May 23) would aim for 1.1303 (55-day sma) and finally 1.1331 (20-day sma). On the other hand, the immediate support lines up at 1.1129 (low May 24) followed by 1.1103 (200-day sma) and then 1.1055 (low Mar.16).