The US Dollar is in broad retreat this morning. It has been losing ground the entire week last week and in the first several sessions of this week so far. It doesn´t make sense since the FED are expected to hike the interest rates this year, which will be the second time in less than a year, while the other central banks like the BOJ and ECB are considering easing their monetary polica yet again. But, this is the sentiment right now. It can shift in a blink of an eye though and the market can turn bullish so be cautious. Right now it seems a bit of overstretched technically too. 

Is 1.1616 enough for EUR/USD?