EUR/USD testing highs near 1.1150 amid broad USD sell-off

The EUR/USD pair is seen consolidating the upside at three-day highs, as heavy losses in the US dollar across the board continue to keep the major underpinned.

EUR/USD extends beyond 200-DMA at 1.1121

Currently, EUR/USD trades +0.32% higher at 1.1151, flirting with fresh three-day highs posted previously at 1.1156. The main currency pair extends its bullish momentum into a third day today, mainly driven by a sharp sell-off in the US dollar versus its major rivals in wake of post-NFP correction as well as on falling treasury yields. The USD index drops -0.40% to 95.69, hovering close to session lows of 95.63.

The bulls struggle to extend higher as sentiment turned mixed across the Asian markets, while oil trades largely subdued, providing little impetus to the funding currency euro. Focus now shifts towards the US calendar amid a lack of significant economic releases from the Euroland lined up today.

EUR/USD Technical Levels             

In terms of technicals, the pair finds the immediate resistance 1.1196/1.1210 (daily R3/ 100-DMA). A break beyond the last, doors will open for a test of 1.1250 (psychological levels). On the flip side, the immediate support is placed at 1.1121/19 (200 & 50-DMA) below which 1.1107/00 (5-DMA/ round number) could be tested.