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EUR/USD retreats from peaks

FXStreet (Edinburgh) - The shared currency is now back to the 1.2760 area after EUR/USD briefly advanced to the 1.2790/95 band, posting fresh multi-day highs at the same time.

EUR/USD bolstered by risk, minutes

The positive tone around the risk appetite coupled with market participants still digesting yesterday’s FOMC minutes keep bolstering the upside momentum in the EUR, which remains on track to challenge the key barrier at 1.2800 the figure. President Draghi’s speech and US Initial Claims (294K exp.) will be the highlights in today’s docket amidst a week in general dry of relevant releases.

EUR/USD key levels

At the moment the pair is up 0.16% at 1.2755 with the next resistance at 1.2816 (low Sep.22) ahead of 1.2849 (30-d MA) and then 1.2864 (high Sep.24). On the flip side, a breakdown of 1.2665 (10-d MA) would open the door to 1.2634 (200-h MA) and finally 1.2623 (low Oct.8).

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