EUR/USD stuck in the mid-1.0600s

The single currency is looking for some motivation to extend the weekly upside vs. the buck, with EUR/USD hovering over the 1.0645/50 band for the time being.

EUR/USD looks to US data

As markets slowly return to the usual activity following the Easter holidays, the pair seems to have lost some upside momentum around yesterday’s tops near 1.0670 while the offered bias around the greenback has subsided somewhat.

Yesterday’s comments by US Treasury Sec. S.Mnuchin seems to have given some respite to the USD’s recent down move, prompting the US Dollar Index to hold on to the critical 100.00 support.

Nothing expected data wise in Euroland today, although headlines from the French elections and geopolitical jitters stay poised to drive the sentiment for the time being.

In the US, Housing Starts and Building Permits are due seconded by Industrial Production and Capacity Utilization for the month of March.

EUR/USD levels to watch

At the moment the pair is gaining 0.05% at 1.0648 facing the next up barrier at 1.0659 (55-day sma) followed by 1.0674 (high Apr.17) and finally 1.0689 (290-day sma). On the downside, a break below 1.0568 (low Apr.10) would target 1.0523 (low Mar.9) en route to 1.0493 (low Mar.2).