EUR/USD retreats to 1.1070 after German CPI

The shared currency keeps its upside unchanged today, with EUR/USD hovering over the 1.1070 area.

EUR/USD unmotivated after data

The pair kept the composure after German preliminary inflation figures have matched initial estimates for the month of June, with headline CPI rising at an annualized 0.3% and 0.1% inter-month (vs. 0.2% expected). The broader HICP measure has come in at 0.1% MoM and 0.2% over the last twelve months.

In the meantime, spot remains sustained by the prevailing risk appetite trends ahead of the US releases and the EU Leaders Summit, on its way to test the 1.110 barrier once again.

EUR/USD levels to watch

The pair is now gaining 0.28% at 1.1096 and a break above 1.1129 (low Jun.16) would target 1.1233 (100-day sma) en route to 1.1250 (20-day sma). On the other hand, the immediate support aligns at 1.0913 followed by 1.0820 (low Mar.10) and finally 1.0709 (low Jan.5).