EUR/USD weaker, drops to lows near 1.1090

The single currency has started the second half of the week on a soft note, taking EUR/USD to the area to the 1.1100 neighbourhood, or daily lows.

EUR/USD focus on data, Brexit

Spot is coming down from yesterday’s weekly tops in the 1.1130 region as risk appetite trends seem to have taken a breather after quite a decent rebound in the last sessions.

In the meantime, market participants remain vigilant on the developments in the UK, with the attention now on the potential Conservatives Party candidates: Boris Johnson and Theresa May, both expected to speak later today.

Back to Euroland, German Retail Sales and labour market figures are due later, seconded by French, Italian and Spanish advanced CPIs and the ECB minutes from its last meeting.

EUR/USD levels to watch

The pair is now losing 0.31% at 1.1090 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 1.1128 (high Jun.29) followed by 1.1248 (20-day sma) en route to 1.1279 (55-day sma).