EUR/USD holds near 100-DMA as USD selling stalls

The EUR/USD pair stalled its recovery mode just shy of 100-DMA, as markets await fresh impetus from the European session amid a lack of liquidity into the markets.

EUR/USD bounces-off 1.1150

Currently, EUR/USD trades +0.12% higher at 1.1168, trying hard to take-out daily tops reached at 1.1173 in mid-Asia. The main currency pair is consolidating the recovery from upbeat US CPI data-led slump to near 1.1150 levels and now remains in search of fresh incentives for further direction.

The recovery appears to lack follow-through as the broad based corrective slide in the US dollar stalls, while persisting risk-friendly environment also weighs on the funding currency status of the euro, keeping the prices in check.

Nothing much of relevance on the EUR calendar for today, except for the Eurozone current account data and German Buba monthly report. While the main risk event for this week remains the Fed interest rates decision due out on Wednesday.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1181/84 (200 & 50-DMA). A break beyond the last, doors will open for a test of 1.1200 (round figure). On the flip side, the immediate support is placed at 1.1145 (weekly low) below which 1.1121 (Aug 31 low) could be tested.