EUR/USD clinches highs near 1.1080

EUR/USD has managed to regain the upper end of the range following a now offered tone around the greenback.

EUR/USD bounces off 1.1040

The pair is trading in a choppy fashion on Wednesday, deflating from yesterday’s peaks near 1.1130 and so far prolonging the upside for the third consecutive session as risk appetite seems to have returned to the markets.

On the data front, EMU’s Industrial Production has contracted more than initially estimated in May, while Export/Import Price index and the Fed’s Beige Book are due later in the US calendar, along with speeches by FOMC’s Harker and Kaplan.

EUR/USD levels to watch

The pair is now gaining 0.15% at 1.1078 and a break above 1.1091 (200-day sma) would aim for 1.1148 (20-day sma ) and finally 1.1196 (base of the 6-month rising channel). On the flip side, the immediate support lines up at 1.0999 (low Jul.8) followed by 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).