EUR/USD pops up above 1.1200

EUR/USD inched a tad higher and briefly rose above 1.1200 during the New York session, although it lacked momentum to confirm a break.

EUR/USD peaked at 1.1203 but quickly pulled back below the 1.12 mark as the US dollar remains in broader consolidative mode. At time of writing, the pair is trading at 1.1195, up % on the day.

On Friday, the greenback weakened on the back of unexpectedly weak retail sales data, which raised doubts about the state of the US economy and the likelihood of another rate hike by the Fed in the near term.

EUR/USD technical levels

In terms of technical levels, next resistances are seen at 1.1228 (100-day SMA), 1.1300 (psychological level) and 1.1337 (Jun 27 high). On the other hand, supports could be found at 1.1142 (50-day SMA), 1.1111 (Aug 10 low) and 1.1080 (200-day SMA).