EUR/USD gathers momentum and extends gains

By FXStreet FXStreet (Córdoba) – EUR/USD picked up fresh momentum and extended gains to fresh highs during the New York session as the dollar weakened sharply across the board over the last minutes.

EUR/USD broke above previous daily highs at the 1.1230 zone and climbed to a high of 1.1274 in recent dealings with no clear fundamental catalysts behind the move.

Later on the session, ECB President Mario Draghi is due to speak while William Dudley from the Fed will do so.

EUR/USD levels to watch

In terms of technical levels, EUR/USD could find immediate resistances at 1.1288 (Oct 5 high) 1.1300 (psychological level) and 1.1318 (Oct 2 high). On the downside, supports are seen at 1.1171 (Oct 6 low), 1.1157 (200-day SMA) and 1.1139 (100-day SMA).
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Source:: FX Street