EUR/USD muted post-US GDP

The single currency kept the composure following US data today, with EUR/USD hovering over the 1.1080/85 band.

EUR/USD upside capped around 1.1100

The pair remained apathetic after the US GDP figures showed the economy has expanded at an annualized 1.1% during the first quarter, bettering initial estimates and previous print (0.8%).

Further data saw inflation figures tracked by the headline PCE rising 0.1% in Q1, while Core PCE rose 2.0% during the same period.

Spot keeps its buoyancy alive in the upper-1.1000s so far, while investors are shifting their focus to the EU Leaders Summit and further developments after the UK has voted to leave the European Union on Friday.

EUR/USD levels to watch

The pair is now gaining 0.52% at 1.1082 and a break above 1.1129 (low Jun.16) would target 1.1233 (100-day sma) en route to 1.1247 (20-day sma). On the other hand, the immediate support aligns at 1.0913 followed by 1.0820 (low Mar.10) and finally 1.0709 (low Jan.5).