- The pair remains rangebound below/at 1.1700 the figure.
- The US Dollar stays subdued in the 94.45/40 band ahead of data.
- US New Home Sales for the month of June are coming up next.
EUR/USD now looks to US data, trade
The pair is prolonging the erratic trade in the middle of the week, although a breakout of the 1.1700 handle and a move further north of this critical level appears so far elusive.
In addition, spot is seen sidelined in the next hours, at least until de ECB event tomorrow. However, market participants do not expect the central bank to come up with any relevant announcements, leaving the bias slightly tilted towards the dovish tone.
Earlier in the session, the German IFO indicator surprised to the upside, whereas data from the US housing sector is due later in the day.
EUR/USD levels to watch
At the moment, the pair is gaining 0.03% at 1.1692 facing the next up barrier at 1.1749 (high Jul.23) followed by 1.1792 (high Jul.9) and finally 1.1853 (high Jun.14). On the downside, a breakdown of 1.1575 (low Jul.19) would open the door to 1.1527 (low Jun.28) and then 1.1508 (2018 low May 30).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.