EUR/USD clings to gains above 1.1100

The shared currency is trading on a firmer note vs. the greenback today, with EUR/USD hovering over daily tops above the 1.1100 handle.

EUR/USD focus on BoE, risk

The pair is advancing since Monday backed by a resurgence of the risk appetite trends amongst traders and dwindling concerns over the potential consequences of the recent ‘Brexit’ vote.

In addition, the offered bias seems to have gathered steam around the buck, helping the pair to surpass the critical 200-day sma located in the 1.1100 neighbourhood.

Absent releases in Euroland today, the attention will shift towards EUR/GBP via the BoE meeting and the likeliness of extra easing after the UK decision to leave the European Union. Across the pond, the usual Initial Claims are due along with Producer Prices and speeches by Lockhart and George.

EUR/USD levels to watch

The pair is now gaining 0.21% at 1.1113 facing the next hurdle at 1.1143 (20-day sma) followed by 1.1184 (high Jul.5) and finally 1.1200 (base of the 6-month rising channel). On the other hand, a breakdown of 1.0999 (low Jul.8) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).