EUR/USD weaker around 1.1040

The common currency is on its way to close the week with losses vs. the greenback, sending EUR/USD to the 1.1040 region.

EUR/USD fades the bull run to 1.1120

The pair has quickly returned to the red territory after a failed attempt to advance further north of the 1.1100 handle on a more sustainable basis and amidst volatile moves in response to the stellar figures from June’s Payrolls (287K).

In the meantime, developments from the recent ‘Brexit’ vote across the Eurotunnel remain poised to determine not only the near/medium term direction of the pair but also the sentiment in the global markets.

EUR/USD levels to watch

The pair is now retreating 0.20% at 1.1042 facing the next resistance at 1.1121 (post-NFP spike Jul.8) followed by 1.1175 (base of the 6-month rising channel) and finally 1.1184 (high Jul.5). On the flip side, a break below 1.1029 (low Jul.6) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).