EUR/USD fades the spike to 1.1130, back below 1.1100

EUR/USD has faded the earlier bull run to the vicinity of 1.1130, returning to the area of 1.1100 amidst prevailing risk-on sentiment.

EUR/USD up on risk appetite

The pair returned to the 1.1100 neighbourhood after the bullish attempt to session tops near 1.1130 lacked of follow through. In the meantime, today’s upside momentum in spot remains sustained by a continuation of the offered bias around the US Dollar, ahead of the speeches by FOMC’s Tarullo and Bullard.

Data wise in the Old Continent, German final CPI figures for the month of June showed the CPI rose 0.1% MoM and 0.3% on a yearly basis, matching preliminary prints.

EUR/USD levels to watch

The pair is now gaining 0.28% at 1.1089 facing the next hurdle at 1.1149 (20-day sma) followed by 1.1192 (base of the 6-month rising channel) and finally 1.1233 (61.8% Fibo post-Brexit move). On the other hand, a breakdown of 1.0999 (low Jul.8) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).