EUR/USD clings to gains above 1.1100

The shared currency keeps its marginal gains vs. the greenback on Friday, with EUR/USD meandering in the low-1.1100s ahead of the US data.

EUR/USD now looks to US ISM

Spot has managed to leave behind yesterday’s pullback to the 1.1020 area, up near a cent after manufacturing PMIs in Germany and the euro area have surprised to the upside during June.

On another direction, ECB’s E.Nowotny has deemed as premature any assessment of the central bank’s bond buying programme after the recent ‘Brexit’ vote.

Next on tap will be US ISM Manufacturing, expected to have ticked slightly higher to 51.4 during last month. Further events will see the speech by Cleveland Fed’s L.Mester.

EUR/USD levels to watch

The pair is now up 0.05% at 1.1111 facing the next hurdle at 1.1155 (high Jun.30) followed by 1.1235 (20-day sma) en route to 1.1276 (55-day sma). On the flip side, a break below 1.0913 (post-Brexit low Jun.24) would open the door to 1.0820 (low Mar.10) and finally 1.0709 (low Jan.5).

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