EUR/USD climbs to highs near 1.1340

By FXStreet The single currency is now gathering further traction vs. the greenback, lifting EUR/USD to fresh daily peaks near 1.1340.

EUR/USD firmer, looks to US CPI

The pair has accelerated its weekly rebound from recent lows in the 1.1280 area in response to a continuation of the offered tone surrounding the US dollar during the first half of the week.

Ahead in the session, USD will take centre stage as US inflation figures are due, seconded by Industrial Production, the API report on crude stockpiles and speeches by FOMC’s Lockhart, Williams and Kaplan.

EUR/USD levels to watch

The pair is now advancing 0.11% at 1.1333 and a break above 1.1448 (high May 11) would target 1.1615 (2016 high May 3) en route to 1.1713 (high Aug.24 2015). On the other hand, the immediate support lines up at 1.1281 (low May 13) followed by 1.1213 (low Apr.25) and finally 1.1142 (low Mar.24).
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Source:: FX Street