EUR/USD catches fresh bid, reverts to fresh post-Brexit tops

After a brief phase of consolidation around 1.13 barrier, the EUR/USD pair caught a fresh bid-wave and reverted towards fresh post-Brexit highs reached at 1.1328 earlier on the day.

EUR/USD awaits Eurozone CPI, ECB accounts

Currently, EUR/USD trades +0.23% higher at 1.1316, looking to retest daily tops. The main currency pair found fresh bids ahead of 1.13 handle and now re-attempts further gains on the back of resumption of the USD downslide, as the European traders hit their desks and react negatively to a slightly dovish FOMC minutes, which highlighted increased uncertainty amongst the Fed member regarding a Fed rate hike in the upcoming months. The USD index drops back below 94.50 levels, now losing -0.23% on the day.

However, further upside seems limited as markets remain wary heading into the Eurozone final CPI report and ECB monetary policy accounts due later in the European session, while the US jobless claims and regional manufacturing index lined up for release in the NA session will also provide fresh insights on the strength of the US economic recovery.

EUR/USD Technical Levels               

In terms of technicals, the pair finds the immediate resistance 1.1328 (post-Brexit high). A break beyond the last, doors will open for a test of 1.1350 (psychological levels). On the flip side, the immediate support is placed at 1.1286 (daily low) below which 1.1244 (5-DMA) could be tested.