EUR/USD retreats from highs, back to 1.1270

The single currency is now giving away part of its daily gains vs. the buck, sending EUR/USD back to the 1.1275/70 band.

EUR/USD loses the grip, USD picks up

A sudden bout of buying interest around the greenback has lifted the US Dollar Index from daily lows, collaborating at the same with the current knee jerk in spot from earlier tops beyond 1.1300 the figure.

EUR keeps its buoyancy intact today in spite of the steady stance from the European Central Bank at its meeting and after Draghi left the door open for further easing in case of need. The meeting has come on the dovish side, however it seems not dovish enough to curb the sentiment around the common currency for the time being.

EUR/USD levels to watch

The pair is now advancing 0.32% at 1.1275 and a break above 1.1367 (high Aug.18) would expose 1.1434 (high Jun.24). On the other hand, the immediate support aligns at 1.1212 (100-day sma) ahead of 1.1192 (2014-2016 support line) and finally 1.1138 (200-day sma).