EUR/USD remains under pressure around 1.1180
The sentiment around the shared currency remains fragile in the first half of the week and is now motivating EUR/USD to test the lower end of the range near 1.1180.
Later in the session, ECB’s Private Sector Loans and M3 Money Supply figures are next in the docket seconded by sentiment and confidence gauges in the euro area. Across the pond, the Conference Board’s Consumer Confidence will be the salient event as US markets returns to normalcy.
EUR/USD levels to watch
At the moment, the pair is retreating 0.05% at 1.1186 and faces the next support at 1.1142 (low May 21) seconded by 1.1107 (2019 low May 23) and finally 1.0905 (high Mar.27 2017).
Short positions below 1.1330 with targets at 1.1100 & 1.0950 in extension.
Long above 1.1330 look for further upside with 1.1450 & 1.1550 as targets
USD/CHF unfazed at 1.0040 despite upbeat Swiss GDP data
While 100-day simple moving average (SMA) at 1.0030 acts as immediate downside support, 1.0000 and 0.9970 can try limiting additional decline ahead of highlighting 0.9955 rest-point comprising 200-day SMA.
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