EUR/USD turns negative, nears 50% Fibo level

EUR/USD continues its retreat from NY session high of 1.1322 in Asia with prices eyeing 1.1264 (50% Fibo retracement of 1.1616-1.0911) levels.

Eyes UK data and Fed minutes

UK labor market data is the first real piece of post Brexit information to hit the wires today. The resulting action in the EUR/GBP cross could influence EUR/USD pair as well.

Later in the day, caution might seep into the markets ahead of the FOMC minutes release, which are likely to underscore data dependent stance.

EUR/USD Technical Levels

A breakdown of support 1.1264 (50% Fibo) would open doors for a drop to 1.1236 (38.2% of 1.0463-1.1714) – 1.12 levels. On the higher side, resistance at 1.1292 (23.6% of May 2014 high- Mar 2015 low) if breached could yield re-test of 1.1322. Further gains could run into resistance at 1.1357 (23.6% of 1.0517-1.1616).