EUR/USD rallies to fresh weekly highs

EUR/USD picked up momentum and climbed to fresh weekly highs during the New York session as the greenback weakened across the board.

With no clear catalysts behind the move, EUR/USD broke through the 1.1250 zone and accelerated to a peak of 1.1273, last seen last Friday. At time of writing, the pair is trading at 1.1267, recording a 0.45% daily gain.

On Thursday, US retail sales will be released, and investors will be scrutinizing data ahead of FOMC meeting next week.

EUR/USD levels to watch

In terms of technical levels, immediate resistances are seen at 1.1284 (Sep 9 high), 1.1326 (Sep 8 high), 1.1340 (Aug 26 high) and 1.1365 (Aug 18 high). On the opposite direction, supports line up at 1.1208 (100-day SMA), 1.1143 (200-day SMA) and 1.1100 (psychological level).