EUR/USD pushing higher, near 1.0670

The sell-off in the greenback stays intact so far today, now helping EUR/USD to move higher to fresh daily tops near 1.0670.

EUR/USD probing the 55-day sma

The pair has accelerated its daily upside on Monday, advancing to the 1.0660/70 band - where sits the 55-day sma – as sellers keep punishing the buck.

In addition, US data came in on the soft side, with both the NAHB index and the Empire State manufacturing gauge disappointing markets and adding to Friday’s poor prints fro Retail Sales and tepid inflation figures for the month of March.

Yields in the US money markets have managed to bounce off daily lows, although the move did not echo in USD.

Looking ahead, EMU’s final inflation figures for the last month are due on Wednesday ahead of April’s advanced Manufacturing PMI due on Friday.

EUR/USD levels to watch

At the moment the pair is gaining 0.42% at 1.0658 facing the next up barrier at 1.0663 (high Apr.17) followed by 1.0679 (high Apr.13) and finally 1.0698 (20-day sma). On the downside, a break below 1.0568 (low Apr.10) would target 1.0523 (low Mar.9) en route to 1.0493 (low Mar.2).