EUR/USD bull run falters near 1.1080

EUR/USD’s bullish attempt seems to have run out of steam in the 1.1080 area, now receding to the mid-1.1000s.

EUR/USD weaker ahead of data, FOMC

The pair lost over a cent since yesterday’s tops above 1.1180, although it seems to have found quite decent support around 1.1040.

The re-emergence of ‘Brexit’ jitters and the prevailing risk aversion continue to set the tone in the global sentiment during the first half of the week, while market participants have shifted their focus to the US docket and FOMC minutes due later in the NA session.

EUR/USD levels to watch

The pair is now losing 0.17% at 1.1057 and 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). On the other hand, the initial resistance aligns at 1.1095 (200-day sma) ahead of 1.1170 (base of the 6-month rising channel) and then 1.1196 (20-day sma).