EUR/USD pushes higher to the 1.2330 area, fresh tops

• The pair managed to break above the 1.2300 handle on Monday.
• USD tumbles below the key support at 90.00 the figure.
• ECB’s M.Draghi is confident inflation will move higher.

The now selling pressure hitting the greenback is motivating EUR/USD to break above the 1.2300 milestone and advanced to fresh 4-day tops at the same time.

EUR/USD higher on USD-selling

The pair is posting gains for the second session in a row today amidst some renewed selling pressure hurting the buck.

In fact, the greenback gave away initial gains and dropped below the psychological support at the 90.00 milestone in response to another wave of risk aversion.

In fact, risk-off sentiment gathered extra steam after news cited China could consider depreciating the Yuan as a retaliatory measure following recent US tariffs on Chinese imports, while the recent developments in Syria have also collaborated with the pick up in the risk-off trade.

In addition, ECB’s President M.Draghi said he expects inflation in the region to pick up pace and the economic growth in the euro area to remain strong.

On the data front in the region, the Sentix index came in below prior surveys for the month of April.

EUR/USD levels to watch

At the moment, the pair is gaining 0.26% at 1.2313 and a break above 1.2340 (55-day sma) would target 1.2346 (high Apr.2) en route to 1.2478 (high Mar.27). On the other hand, the immediate contention emerges at 1.2216 (low Apr.6) seconded by 1.2206 (low Feb.9) and then 1.2165 (low Jan.18).