EUR/USD deflates to 1.1320 ahead of Draghi, Yellen

The common currency keeps the positive note today, with EUR/USD clinging to gains above the 1.1300 handle.

EUR/USD now looks to Draghi, Yellen

The upside momentum in spot remains well and sound today, adding to Monday’s gains amidst a continuation of the risk appetite trends and a generalized bearish bias around the greenback.

Upbeat results from EMU/German ZEW Survey for the current month have also collaborated with the pair’s upside, all ahead of the speech by President M.Draghi and Chair J.Yellen’s testimony to the Senate Banking Panel.

EUR/USD levels to watch

The pair is now advancing 0.04% at 1.1319 and a break above 1.1417 (high Jun.8) would expose 1.1466 (high Apr.12) and then 1.1617 (2016 high May 3). On the other hand, the immediate support aligns at 1.1306 (55-day sma) followed by 1.1262 (20-day sma) and finally 1.1129 (low Jun.16).