EUR/USD little changed near 1.1050

The single currency is trading almost unchanged vs. its American peer at the beginning of the week, with EUR/USD hovering over the mid-1.1000s so far.

EUR/USD focus on risk trends

Absent significant releases in Euroland today, the pair’s price action will largely hinge on the broader risk appetite trends, with developments from the UK and the recently announced fresh stimulus package in Japan poised to garner attention early in European trade.

Data wise across the pond, the Fed’s Labor Market Conditions Index is only due, followed by the speech by KC Fed President E.George (voter, hawk).

Regarding positioning, speculative net shorts in EUR has climbed to the highest level since March 23, according to the latest CFTC report.

EUR/USD levels to watch

The pair is now losing 0.04% at 1.1046 facing the next support at 1.0999 (low Jul.8) ahead of 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10). On the other hand, a breakout of 1.1092 (200-day sma) would target 1.1183 (base of the 6-month rising channel) and finally 1.1228 (100-day sma).