EUR/USD looks to regain 1.1400 ahead of data

The pair remains sidelined around the 1.1400 area on Monday.
The greenback stays rangebound in the mid-96.00s.
Sentix Index in Euroland and US ISM Non-manufacturing next on tap.

Pablo Piovano FXStreet

The singular currency has started the week on a consolidative fashion and is now prompting EUR/USD to navigate below the 1.1400 handle ahead of the opening bell in Euroland.

EUR/USD looks to data

Spot has regained some ground following the moderate sell off on Friday in response to the solid results from the US labour market report, where the US economy added more jobs than expected (250K) and inflation pressure via wages remained strong during October.

EUR is expected to remain cautious this week and with the attention on the US-China trade dispute after US officials talked down the probability of a deal in the near term, removing some tailwinds from the recent up move in the pair.

In addition, German and Italian politics should remain in centre stage along with the US mid-term elections due tomorrow.

Looking ahead then, the Sentix index is next on tap in the euro area, while the ISM Non-manufacturing will be the salient publication across the pond.

EUR/USD levels to watch

At the moment, the pair is up 0.04% at 1.1394 facing the next hurdle at 1.1458 (high Nov.2) seconded by 1.1508 (low May 29) and finally 1.1550 (high Oct.22). On the other hand, a break below 1.1372 (low Nov.2) would target 1.1334 (low Oct.26) en route to 1.1316 (200-week SMA).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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