EUR/USD advances to highs near 1.1230 ahead of Draghi

The selling interest around the greenback is now picking up pace, sending EUR/USD to the upper end of the range near 1.1230.

EUR/USD attention to Draghi

The pair is advancing for the second straight session today, regaining the 1.1200 handle and above against the backdrop of a generalized offered bias surrounding the US dollar.

USD remains weak following yesterday’s FOMC meeting, where the Committee stressed that the case for a rate hike has strengthened although more evidence is needed before incur in further tightening.

Next on tap in the data space, President M.Draghi and Board member S.Lautenschlager are due to speak at the First ESRB Annual conference, while flash Consumer Confidence in the euro area is also due for the current month.

Across the pond, Existing Home Sales, Initial Claims and the Chicago Fed National Activity Index are to be published.

EUR/USD levels to watch

The pair is now gaining 0.32% at 1.1226 facing the next resistance at 1.1259 (23.6% Fibo of June-August up move) followed by 1.1283 (resistance line off 2016 high) and finally 1.1329 (high Sep.8). On the downside, a break below 1.1121 (low Aug.31) would target 1.1043 (low Aug.5) en route to 1.0950 (low Jul.25).