EUR/USD off lows, regains 1.1200

After bottoming out in the 1.1180 region, EUR/USD seems to have found some dip-buyers and is now looking to advance further north of 1.1200 the figure.

EUR/USD now looks to UK elections

The pair is extending its weekly decline for the third consecutive session so far today, coming down from levels just below the critical 1.1300 handle to fresh multi-day lows near 1.1180 seen during overnight trade.

EUR followed the Sterling south after UK elections results are on its way to confirm a hung parliament. In fact PM Theresa May is now under pressure after Conservatives are unable to gain majority and her leadership begins to be questioned.

Despite EU leaders have yet to express about the results, the start of Brexit negotiations (initially scheduled for later in the month) would now surely be delayed, while the prospects of some political effervescence seems appears likely in the near term.

There are no data releases today in Euroland, whereas wholesale inventories are only expected across the pond.

EUR/USD levels to watch

At the moment, the pair is losing 0.01% at 1.1209 facing the next support at 1.1180 (low Jun.9) followed by 1.1158 (low May ) and finally 1.1108 (low May 30). On the flip side, a break above 1.1284 (2017 high Jun.5) would target 1.1300 (high Nov.9 2016) en route to 1.1367 (high Aug.18 2016).