EUR/USD Wobbling Around 1.1400
EUR/USD is now attempting to regain the 1.1400 handle after bottoming out near 1.1370 earlier in the session.
EUR/USD attention to risk trends, US data
The
pair keeps the narrow range at the beginning of the week, meandering
between 1.1370 and 1.1420 against a backdrop of USD strength and
alternating risk appetite trends.
In the data space, German
Factory Orders have surpassed estimates in March, while Investor
Sentiment in the euro region tracked by the Sentix index has come in
above initial forecasts. Next on tap will be the Fed’s LMCI and the
speech by FOMC’s Kashkari.
EUR/USD levels to watch
The
pair is now up 0.01 at 1.1405 and a break above 1.1615 (2016 high May
3) would open the door to 1.1713 (high Aug.24 2015) and finally 1.2110
(2015 high Jan.2). On the other hand, the immediate support aligns at
1.1357 (20-day sma) followed by 1.1243 (55-day sma) and finally 1.1213
(low Apr.25).
