EUR/USD slips to 1.1050 ahead of US data

EUR/USD has returned to the mid-1.1000s after a failed attempt to advance to the 1.1200 area.

EUR/USD looks to US data

The pair is down nearly 3% so far today, navigating the area of 1.1050/40 ahead of US Durable Goods Orders and the Consumer Sentiment gauged by the Reuters/Michigan index.

Spot has managed to recover from the initial drop to the 1.0900 neighbourhood in the wake of the results from the UK Referendum earlier in the session, although it is expected to remain under pressure as global markets continue to assess the implications of the UK leaving the European Union.

EUR/USD levels to watch

The pair is now losing 3.01% at 1.1042 and a break below 1.0913 (low Jun.24) would open the door to 1.0820 (low Mar.10) and finally 1.0709 (low Jan.5). On the flip side, the immediate hurdle lines up at 1.1259 (20-day sma) followed by 1.1296 (55-day sma) and then 1.1427 (high Jun.23).