EUR/USD stuck within the range, near 1.1080

The common currency is trading almost unchanged vs. the greenback today, with EUR/USD consolidating around 1.1080/85 for the time being.

EUR/USD looking for direction

Spot has managed to rebound from last Friday’s post-Payrolls lows in the 1.1040 area, although gains appear so far capped in the area just above the 1.1100 limestone, all amidst a pick up in the risk-associated space.

Data wise in the euro area, Investor Confidence tracked by the Sentix index has surpassed estimates at 4.2 for the month of August, vs. 3.0 estimated and July’s 1.7, while the Fed’s Labor Market Conditions Index is only due across the pond.

EUR/USD levels to watch

The pair is now losing 0.04% at 1.1082 facing the initial resistance at 1.1152 (55-day sma) ahead of 1.1236 (high Aug.2) and then 1.1263 (50% Fibo of the May-June down move). On the other hand, a breach of 1.0950 (low Jul.25) would target 1.0913 (post-Brexit low Jun.24) en route to 1.0820 (low Mar.10).