EUR/USD stuck within the range near 1.1250

EUR/USD remains almost unchanged on Tuesday, gyrating around the mid-1.1200s amidst the generalized lacked of direction in the global markets.

EUR/USD now looks to US data, Fischer

Spot met renewed selling pressure today after Monday’s spike seems to have run out of legs ahead of the resistance line off 2016 top seen in early May, all against a pick up in the risk-on sentiment along with a better mood around the buck.

Later in the NA session, USD will take centre stage in light of the publication of the S&P/Case-Shiller index, seconded by the CB’s Consumer Confidence and Services PMI gauged by Markit, all preceding the speech by FOMC’s VP S.Fischer.

Previously in Euroland, M3 Money Supply has expanded at an annualized 5.1% during August, bettering estimates, while Private Sector Loans gained 1.8% YoY during the same period.

EUR/USD levels to watch

The pair is now losing 0.04% at 1.1249 and a breakdown of 1.1214 (20-day sma) would target 1.1154 (200-day sma) en route to 1.1119 (low Sep.21). On the flip side, the next hurdle aligns at 1.1273 (resistance line off 2016 high) ahead of 1.1329 (high Sep.8) and finally 1.1367 (high Aug.18).