EUR/USD remains subdued near 1.1160

The common currency keeps the bearish note during the European afternoon, with EUR/USD navigating the lower bound of the range near 1.1160.

EUR/USD supported near 1.1150

The pair’s daily decline seems to have found quite decent support in the vicinity of 1.1150 for the time being, while market sentiment keeps favouring a stronger greenback.

Yields in the German money markets are navigating a ‘sea of read’ so far today, adding to the current EUR-weakness and opening the door for further downside in case of a more convincing breach of the critical 200-day sma around 1.1165.

Supporting today’s bid tone around USD, Richmond Fed J.Lacker (2018 voter, hawkish) argued that the Fed policy rate should be at least 1.5% by now.

Ahead in the session, US Economic Optimism index measured by IBD/TIPP is seen ticking a tad higher to 47.5 from 46.7 for the current month.

EUR/USD levels to watch

The pair is now losing 0.48% at 1.1157 facing the immediate support at 1.1103 (2014-2016 support line) ahead of 1.1043 (low Aug.5) and finally 1.0994 (7-month support line). On the flip side, a break above 1.1270 (resistance line off 2016 high) would target 1.1279 (high Sep.26) en route to 1.1329 (high Sep.8).