EUR/USD bounces off 1.1020 head of US data

EUR/USD has managed to regain the 1.1050 area after bottoming out in the 1.1020/15 band earlier in the session.

EUR/USD weaker on USD bids

The pair now alternating gains with losses in a context mainly dominated by the buying interest around the greenback and upside momentum in GBP.

USD has found extra legs in the much stronger-than-expected US Payrolls for the month of June, coming in at 287K vs. 175K expected, and lifting the US Dollar Index to the vicinity of 3-week tops.

Ahead in the NA session, KC Fed President E.George is due to speak, while the Fed’s Labor Market Conditions Index is the only release scheduled today.

EUR/USD levels to watch

The pair is now up 0.04% at 1.1054 and a breakout of 1.1092 (200-day sma) would target 1.1183 (base of the 6-month rising channel) and finally 1.1233 (61.8% Fibo post-Brexit move). On the flip side, the next support aligns at 1.0999 (low Jul.8) ahead of 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).