EUR/USD firmer, looks to 200d sma

The single currency is now trading on a solid note vs. the greenback, sending EUR/USD to the upper end of the range near 1.1080.

EUR/USD focus on risk trends

The pair shrugged off its initial weakness, as market sentiment has quickly recovered from the failed coup attempt in Turkey over the weekend.

After briefly testing the 1.1020 area, buyers have turned up and lifted spot to levels closer to the critical 200-day sma located at 1.1086. In addition, USD has lost some upside momentum following Friday’s sharp gains on upbeat US Retail Sales.

Absent releases in Euroland today and with only second tier data due across the pond, risk appetite trends will once again come to the fore today as drivers for the price action.

EUR/USD levels to watch

The pair is now gaining 0.32% at 1.1064 facing the next hurdle at 1.1086 (200-day sma) followed by 1.1166 (high Jul.14) and then 1.1184 (high Jul.5). On the other hand, a breakdown of 1.0999 (low Jul.8) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).