EUR/USD choppy around 1.0640

EUR/USD stays well bid above the 1.0600 handle for the time being, now testing the area of 1.0640.

EUR/USD upside halted near 1.0650

The offered bias around the greenback remains intact at the beginning of the week, as market participants continue to digest Friday’s disappointing results from US Retail Sales and inflation figures tracked by the CPI.

Additionally, Thursday’s comments by President Donald Trump regarding the USD strength keep undermining the performance of the buck, hitting yields in the US money markets and plotting against any bullish attempt in DXY.

Markets in Euroland stay closed today due to Easter Monday holiday, leaving all the attention to the US docket, where the NY Empire State Manufacturing index, the NAHB index and TIC Flows are all due later.

From the positioning side, EUR speculative net shorts have regained traction during the week ended on April 11, advancing to 3-week tops as per the latest CFTC report.

EUR/USD levels to watch

At the moment the pair is gaining 0.28% at 1.0642 facing the next up barrier at 1.0633 (high Apr.14) followed by 1.0662 (55-day sma) and finally 1.0679 (high Apr.13). On the downside, a break below 1.0568 (low Apr.10) would target 1.0523 (low Mar.9) en route to 1.0493 (low Mar.2).