EUR/USD bounces off lows, returns to 1.1360

After testing fresh session lows near 1.1330, EUR/USD has now trimmed those losses and regained the 1.1360/70 band.

EUR/USD gains capped near 1.1450

Spot is now alternating gains with losses following a negative start, including a visit to fresh 4-day lows in the 1.1335/30 band amidst the lack of direction in the greenback.

The offered bias around the pair also finds sustain in the moderate decline in EUR/JPY on increasing safe haven demand, all in response to the missile launch by North Korea earlier in the day.

Nothing scheduled data wise in Euroland today, and with US markets closed due to the Independence Day holiday, the pair’s price action should follow the broader risk appetite trends.

EUR/USD levels to watch

At the moment, the pair is retreating 0.05% at 1.1358 and a break below 1.1336 (low Jul.4) would target 1.1301 (10-day sma) en route to 1.1249 (21-day sma). On the other hand, the next up barrier aligns at 1.1448 (2017 high Jun.30) seconded by 1.1466 (high Apr.12 2016) and finally 1.1616 (high May 3 2016).