EUR/USD makes U-turn, back above 1.1200

EUR/USD made a dramatic U-turn and took back most of its intraday losses as sentiment switched during the New York session.

EUR/USD has risen more than a hundred pips after bouncing from a low of 1.1130, but the comeback faltered at the 100-hour SMA around 1.1243. At time of writing, the pair is trading at 1.1227, still 0.31% below its opening price.

The US dollar came under sudden pressure with no clear catalysts and amid unsourced rumours that the Brexit vote could be delayed because of the murder of UK lawmaker Jo Cox.

EUR/USD levels to watch

As for technical levels, EUR/USD immediate resistances are seen at 1.1300 (50-day SMA/psychological level), 1.1320 (Jun 10 high), 1.1415 (Jun 9 high) and 1.1445 (May 11 high). On the other side, supports could be found at 1.1130 (Jun 16 low), 1.1102/00 (200-day SMA/psychological level) and 1.1057 (Mar 16 low).