EUR/USD clocks fresh post Brexit high

Broad based USD selling pushed EUR/USD pair to 1.1328; its highest level since June 24 drop.

USD hurt by slide in treasury yields

Expectations that Fed may build ground for a potential move in December had gathered pace following hawkish comments from Fed officials earlier this week. However, markets were disappointed by the neutral or data dependent tone of the Fed minutes due to which Treasury yields are down in Asia

Consequently, the dollar is feeling the heat. The currency pair clocked a high of 1.1328 and was last seen trading around 1.1318 levels.

EUR/USD Technical Levels

Rising trend line drawn from Dec low and Mar low comes around 1.1340. A break above the same could yield test of another rising trend line (Dec low to Mar 2nd low) resistance seen at 1.1430. A violation there would expose 1.15 handle.

On the lower side, a break below 1.1292 (23.6% of May 2014 high-Mar 2015 low) would shift risk in favor of a drop to 1.1234 (Aug 2 high). Next major support is lined up at 1.1196 (38.2% of 1.0517-1.1616).