FXStreet (Edinburgh) – EUR/USD bounced off session lows around 1.0890 on Monday, although the rebound lost vigour in the 1.0930 region.
EUR/USD now focuses on Germany, US docket
With May’s manufacturing PMI already in the rear-view mirror and Greece headlines as the persistent catalyst for the pair, traders will now turn their focus on the upcoming flash CPI in Germany. Consensus sees headline consumer prices to have risen 0.7% on a yearly basis during the last month, while broader HICP expacted at 0.6% YoY.
Across the Atlantic, PCE, Personal Spending/Income and the more significant ISM Manufacturing will bring in volatility from the USD-side.
EUR/USD levels to watch
The pair is now losing 0.69% at 1.0910 with the next support at 1.0867 (low May 28) ahead of 1.0819 (low May 27) and finally 1.0800 (psychological level). On the upside, a break above 1.0990 (high Jun.1) would target 1.1002 (10-d MA) en route to 1.1010 (high May 25).
(Market News Provided by FXstreet)