EUR/USD eyes a test of Tuesday’s highs near 1.0630?

The offered tone behind the US dollar picked-up last hour, now pushing the EUR/USD pair further beyond 1.06 handle, in a bid to test Tuesday’s high reached at 1.0631.

The ongoing upbeat momentum in EUR/USD above 1.0600 levels gathered steam, as risk-off sentiment seeped back into markets amid escalating geo-political tensions over Syria, reinforcing the funding currency status of the euro.

Moreover, latest comments from Eurogroup President Jeroen Dijsselbloem, noting that the ECB’s broad monetary policy can be phased out, also added to bullish tone behind the spot.

Later today, the major will track the broader market sentiment for fresh momentum amid a lack of significant economic updates from the US. Meanwhile, traders gear up for a fresh batch of US macro news slated for release tomorrow.

EUR/USD Technical Levels

Technical resistances for the pair are aligned at 1.0628/30 (100 & 10-DMA), 1.0650/53 (psychological levels/ 100-DMA) and finally 1.0687/90 (Apr 6 & 5 high). On the flip side, the spot finds next support at 1.0568 (multi-week low), a break below that level could open the door to 1.0533/23 (Mar 8 & 9 low) and 1.0500 (key support).