EUR/USD bull run falters near 1.1400

The upside bias around EUR/USD has accelerated today, although it seems to have run out of steam in levels just shy of the 1.1400 barrier.

EUR/USD stronger on USD selling

Spot rapidly picked up pace as the selling mood around the greenback has intensified during the European morning, dragging the US Dollar Index (DXY) to fresh multi-week lows in near the 93.00 handle.

On the data front, advanced PMIs in the euro zone have come in below expectations, although traders have largely ignored the releases amidst increasing anxiety over the UK referendum.

EUR/USD levels to watch

The pair is now advancing 0.78% at 1.1372 and a break above 1.1417 (high Jun.9) would target 1.1466 (high Apr.12) en route to 1.1617 (2016 high May 3). On the other hand, the immediate support aligns at 1.1302 (55-day sma) followed by 1.1262 (20-day sma) and finally 1.1191 (uptrend from 1.0820).