EUR/USD manages to regain 1.0600 ahead of German CPI

The EUR/USD pair is seen making minor-recovery attempts above 1.06 handle, aiming for a retest of daily highs of 1.0622 amid intensifying risk-off moods.

EUR/USD: Attention to German CPI, US GDP & Fed speaks                          

Currently, EUR/USD trades modestly flat at 1.0607, extending recovery from 1.0589, session lows. A fresh selling-wave witnessed in oil prices triggered a renewed bout of risk-aversion across the financial markets, which boosts the funding currency status of the euro.

Moreover, extension of the retreat in the US treasury yields stalled the upbeat momentum behind the US dollar versus its main competitors, thus, rescuing the EUR bulls from below 1.06 handle.

Later today, the major is likely to get influenced by the fundamentals, with the German CPI data to release ahead of the US GDP report and consumer confidence numbers. Besides, Fedspeaks from Powell and Dudley will also remain in the limelight.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0621 (daily pivot). A break beyond the last, doors will open for a test of 1.0685 (weekly high) and from there to 1.0700 (round figure) On the flip side, the immediate support is placed at 1.0561 (Nov 28 low) below which 1.0535 (Nov 25 low) and 1.0515 (multi-month low) could be tested.