EUR/USD under pressure as Fed keeps June hike on the table

EUR/USD came under renewed pressure in Afternoon trade as the greenback rallied against its competitors, propelled by Fed minutes, which showed most members see June hike as possible if economic data warrants.

EUR/USD broke through the 1.1250 zone and slid to its lowest level in over three weeks at 1.1218 before finding support. The pair was last trading at 1.1222, recording a 0.79% loss on the day.

EUR/USD levels to consider

In terms of technical levels, immediate supports are seen at 1.1200 (psychological level), 1.1147 (100-day SMA) and 1.1100 (200-day SMA/psychological level). On the flip side, resistances line up at 1.1315 (50-day SMA/May 18 high), 1.1361 (20-day SMA) and 1.1379 (May 13 high).