EUR/USD off highs, back near 1.1120

The single currency keeps its buoyancy intact so far this week, now sending EUR/USD to the area of 1.1120 ahead of EMU data.

EUR/USD attention to CPI, US releases

The prevailing risk-on sentiment throughout the week has allowed the pair to rebound from Friday’s lows in the 1.1000 neighbourhood to yesterday’s spike to the vicinity of 1.1170, albeit losing some momentum afterwards.

Later in the European session, EMU’s final CPI figures are due ahead of US CPI, Retail Sales and Consumer Sentiment gauged by the Reuters/Michigan index. Market consensus expects consumer prices to have risen 0.3% MoM in June, while Retail Sales are seen expanding 0.1% during the same period.

EUR/USD levels to watch

The pair is now gaining 0.03% at 1.1124 facing the next hurdle at 1.1166 (high Jul.14) followed by 1.1184 (high Jul.5) and finally 1.1207 (base of the 6-month rising channel). On the other hand, a breakdown of 1.0999 (low Jul.8) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).