EUR/USD retreats from highs but clings to daily gains

EUR/USD retreated from highs scored during the European session but remains up for the day, as the greenback continues to underperform amid easing Brexit fears.

The dollar and the yen weakened on Monday while global stocks surged after polls suggested the UK was more likely to vote to remain in the European Union, easing jotters ahead of Thursday’s referendum.

EUR/USD reached a peak of 1.1382, last seen June 9, but gave up some gains over the last hours. However, with the downside contained by 1.1320 area, the pair was confined to a phase of consolidation At time of writing, EUR/USD is trading at 1.1339, still up 0.55% on the day.   

EUR/USD levels to watch

As for technical levels, EUR/USD could find next resistances at 1.1415 (Jun 9 high), 1.1445 (May 11 high) and 1.1478 (May 6 high). On the other hand, supports are seen at 1.1297 (50-day SMA), 1.1230 (100-day SMA) and 1.1130 (Jun 16 low).