EUR/USD clinches highs near 1.1050 ahead of ECB

The common currency keeps its positive momentum on Thursday, now lifting EUR/USD to test fresh daily tops in the boundaries of 1.1050.

EUR/USD focus on ECB

Choppy week for the pair so far, although it has managed to bounce off Wednesday’s troughs in the 1.0980 area as the rally in the greenback seems to have taken a pause today.

Ahead in the day, the ECB meeting will gather all the looks. Market chatter sees the central bank refraining from acting on its monetary policy, keeping its cautious tone instead and staying vigilant on any move by the BoE after the recent ‘Brexit’ vote.

EUR/USD levels to watch

The pair is now gaining 0.23% at 1.1039 and a breakout of 1.1082 (200-day sma) would target 1.1166 (high Jul.14) en route to 1.1201 (55-day sma). On the other hand, the immediate support aligns at 1.0979 (low Jul.20) followed by 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).

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