EUR/USD clings to 1.1000

EUR/USD has entered a consolidation phase during the American session after sharp swings seen since the beginning of the week, as markets remain driven by Brexit vote aftermath.

EUR/USD fell to a daily low of 1.0970 but held up pretty well above Friday’s lows, and it has spent the last hours sideways around 1.1000, as investors take a cautious stance in financial markets. At time of writing, the pair is trading at 1.1000, 0.78% down on the day.

EUR/USD levels to watch

As for technical levels, immediate supports are seen at 1.0911 (Jun 24 low) and 1.0821 (Mar 10 low). On the flip side, next resistances could be faced at 1.1083 (Jun 27 high), 1.1100 (psychological level/200-day SMA) and 1.1235 (100-day SMA).