EUR/USD Parked Around 1.1370, Bunds, Oil Eyed
EUR/USD is now attempting a consolidative pattern around 1.1370, all within a narrow range between 1.1350 and 1.1380.
EUR/USD looks to German FI
The pair is recovering from the earlier knee-jerk to the mid-1.1300s following a softer tone in the German FI space, with yields in Bunds - 2y, 5y and 10y - bouncing off session lows.
EUR is also deriving support from the current rally in crude oil prices, where the barrel of Brent crude is approaching the key $52.00 mark.
Nothing expected data wise in Euroland, whereas the EIA report on crude oil inventories is worth mentioning across the pond.
EUR/USD levels to watch
The pair is now up 0.11% at 1.1370 and a break above 1.1393 (high Jun.6) would expose 1.1448 (high May 11) and finally 1.1466 (high Apr.12). On the flip side, the immediate support lines up at 1.1313 (55-day sma) followed by 1.1241 (20-day sma) and then 1.1205 (100-day sma).