EUR/USD treading water above 1.10

The shared currency remains on the positive territory above the 1.10 handle vs. the buck, with EUR/USD now meandering a tight range around 1.1010/20.

EUR/USD bid on USD weakness

Spot has managed to regain the 1.10 handle following a continuation of the selling bias around the greenback, which remains under pressure via a lower USD/JPY on stimulus chatter ahead of the BoJ meeting (Friday).

Next on tap for the pair will be the US calendar, with the S&P/Case-Shiller index, Markit’s Services PMI, New Home Sales and CB’s Consumer Confidence all due for release later in the NA session.

EUR/USD levels to watch

The pair is now gaining 0.12% at 1.1008 facing the initial hurdle at 1.1057 (20-day sma) followed by 1.1075 (200-day sma) and then 1.1166 (high Jul.14). On the flip side, a breakdown of 1.0913 (post-Brexit low Jun.24) would open the door to 1.0820 (low Mar.10) and finally 1.0777 (low Jan.21).