EUR/USD showing signs of life near 1.1200

The shared currency is navigating a narrow range at the end of the week, with EUR/USD treading water around the critical support at the 1.1200 handle.

EUR/USD clings to 1.1200

Spot has retaken the 1.1200 handle after a brief knee-jerk to the area of 1.1180 seen yesterday, levels last traded in late March.

Today’s so far small recovery is following some profit taking and lack of direction surrounding the greenback after Vice Chair Fischer gave no clues on current monetary policy in his speech on Thursday, as opposed to recent hawkish comments by several of his FOMC peers.

EUR/USD levels to watch

The pair is now gaining 0.05% at 1.1209 and a break below 1.1154 (100-day sma) would target 1.1142 (low Mar.24) en route to 1.1101 (200-day sma). On the other hand, the initial hurdle aligns at 1.1294 (55-day sma) followed by 1.1357 (20-day sma) and finally1.1448 (high May 11).