EUR/USD looks to regain 1.0650 amid risk-recovery

EUR/USD pair traded choppy in Asia, however, remained confined within the familiar 60-pips trading range seen so far this week, with the upside capped near 1.07 handle and downside cushioned around 1.0630 region.

Over the last hour, the spot is struggling to regain 1.0650 barrier, tracking a subdued trading activity seen the US dollar versus its main peers, as dust settles over the US military strikes on Syria.

The Euro showed limited reaction to reports of the US attacks on Syrian airfields, forcing markets to believe whether the Euro is still considered a funding currency. In times of political uncertainty and market unrest, investors seek to protect their capital and hence, prefer to park their funds in low-yielding/ low-risk currency EUR.

All eyes now remain on the economic releases due later today, with the immediate focus on the German industrial production and trade balance data. However, the main risk events for the spot remains the US NFP report and Trump-Xi meeting due on tap later today.

EUR/USD Technical Levels   

Technical resistances for the pair are aligned at 1.0688/0700 (10-DMA/ psychological level), 1.0738      (20-DMA) and finally 1.0813 (200-DMA). On the flip side, the spot finds next support at 1.0625 (100-DMA), a break below that level could open the door to 1.0600 (psychological level/Mar 14 low) and 1.0569/59 (Mar 10 low/ classic S3).