EUR/USD remains under pressure, back below 1.10

The common currency keeps its negative stance well and sound today, now sending EUR/USD back to sub-1.10 levels.

EUR/USD lower on USD buying

Spot remains vulnerable on Wednesday as the bullish momentum in the greenback seems everything but abated, with the US Dollar Index now challenging daily highs in the vicinity of 97.50.

In the meantime, cautiousness amongst market participants is poised to gather further steam in light of the upcoming ECB meeting. Prior surveys expect the central bank to keep rates on hold tomorrow, although it could be some announcement regarding the QE programme.

EUR/USD levels to watch

The pair is now losing 0.22% at 1.0997 and a breakdown of 1.0982 (low Jul.20) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10). On the flip side, the initial up barrier aligns at 1.1083 (200-day sma) followed by 1.1094 (20-day sma) and finally 1.1166 (high Jul.14).