EUR/USD still depressed near 1.1340

The sentiment around the single currency stays unchanged on Tuesday, with EUR/USD now hovering over the 1.1340 area, near daily lows.

EUR/USD in 4-day lows

The pair is retreating for the third consecutive session so far today, coming down from Friday’s fresh multi-month tops in the mid-1.1400s.

The renewed pick up in the demand for the greenback is weighing on spot for the time being, while the US Dollar Index (DXY) has managed to recover the key 96.00 handle despite thin trade conditions keep prevailing today.

The current pullback in the pair is supported by the recent performance of traders in EUR futures markets, implying the likeliness that a top could be in place although occasional dips should be shallow.

EUR/USD levels to watch

At the moment, the pair is retreating 0.18% at 1.1344 and a break below 1.1336 (low Jul.4) would target 1.1301 (10-day sma) en route to 1.1249 (21-day sma). On the other hand, the next up barrier aligns at 1.1448 (2017 high Jun.30) seconded by 1.1466 (high Apr.12 2016) and finally 1.1616 (high May 3 2016).