EUR/USD struggling around 1.1240

The single currency is struggling to gather any traction so far on Friday, taking EUR/USD to the 1.1240/35 band following the opening bell in Euroland.

EUR/USD looks to US data

The pair has fully faded yesterday’s spike to the vicinity of 1.1290 following poor prints from US Retail Sales during last month, returning to the comfort zone around 1.1240/30 in line with the broad based absence of catalysts and volatility.

The greenback will take centre stage ater in the NA session in light of the publication of inflation figures in the US economy for the month of August and the advanced September’s Consumer Sentiment gauge tracked by the Reuters/Michigan index.

In the meantime, spot keeps meandering a narrow range so far limited by the 2014-2016 support trend line and the resistance line off 2016 top, both currently at 1.1194 and 1.1294, respectively.

EUR/USD levels to watch

The pair is now losing 0.09% at 1.1234 and a breakdown of 1.1194 (2014-2016 support line) would target 1.1147 (200-day sma) en route to 1.1043 (low Aug.5). On the flip side, the immediate resistance is located at 1.1286 (spike Sep.15) followed by 1.1294 (resistance line off 2016 high) and finally 1.1329 (high Sep.8).