EUR/USD keeps the red around 1.0970 ahead of EZ CPI

After having faced rejection at four hourly 200-MA in the Asian opening trades, EUR/USD extends its move lower into early Europe, as the greenback regained poise across the board.

EUR/USD awaits German retail sales, Eurozone CPI

Currently, EUR/USD trades -0.15% lower at 1.0969, meandering near daily lows posted previously at 1.0961. The main currency pair is seen on a minor-corrective mode this Monday, reversing a part of Friday’s rally, triggered by heavy broad USD selling after FBI re-opened probe into Clinton’s email-scam.

The major now awaits a fresh batch of fundamentals lined up for release from the Euroland and US due on the cards later on Monday. The German retail sales and Eurozone flash CPI estimate will be reported in the European session. While on the US calendar, we have Fed’s preferred inflation gauge and Chicago PMI data lined up for release today.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0991 (daily high). A break beyond the last, doors will open for a test of 1.1050 (psychological levels) and from there to 1.1100 (key resistance). On the flip side, the immediate support is placed at 1.0949 (5-DMA) below which 1.0921 (10-DMA) and 1.0900 (round figure) could be tested.