EUR/USD surrenders gains, around 1.1350

The shared currency lost its shine during the European afternoon, with EUR/USD struggling to keep gains around 1.1350.

EUR/USD capped by 1.1400

A continuation of the bearish bias around the US dollar keeps sustaining the upside momentum in the risk-associated assets, reinforced at the same time by the upbeat sentiment in crude oil prices and better-than-expected GDP figures in the euro area during the first quarter.

Next of relevance for EUR will be the speech by President Draghi on Thursday, following the steady stance from the central bank at its meeting last week and the cautious tone from the press conference.

EUR/USD levels to watch

The pair is now up 0.01% at 1.1355 and a break above 1.1393 (high Jun.6) would expose 1.1448 (high May 11) and finally 1.1466 (high Apr.12). On the flip side, the immediate support lines up at 1.1310 (55-day sma) followed by 1.1242 (20-day sma) and then 1.1200 (100-day sma).