EUR/USD swings higher to test 1.1150, EU CPI eyed

The EUR/USD pair found fresh bids ahead of 20-DMA support and swung back higher towards the id-point of 1.11 handle, in another run to take-out post-BOE highs reached at 1.1165.

EUR/USD catches fresh bid

Currently, EUR/USD now trades +0.23% higher at fresh session highs of 1.1148, as negative sentiment prevailed on the European markets, triggered by horrific Nice attacks.

The German DAX trades modestly flat at 10,070, the UK’s FTSE drops -0.28% to 6,635, and the pan-European benchmark, the Euro Stoxx 50 declines -0.36% to 2,959.

More so, renewed weakness in the greenback against its six major peers, also adds to the fresh buying seen in EUR/USD.

Markets now turn focus towards the Euro zone CPI data due out shortly, while the US dataflow will also garner a lot of attention later today.

EUR/USD Technical Levels             

In terms of technicals, the pair finds the immediate resistance 1.1187/1.1200 (50-DMA/ round number). A break beyond the last, doors will open for a test of 1.1250 (psychological levels). On the flip side, the immediate support is placed at 1.1104 (20-DMA) below which 1.1088 (200-DMA) could be tested.