EUR/USD retreats from tops, stays below 1.1800
- The pair faded part of the initial spike beyond 1.1800 the figure.
- The greenback turns positive in the 93.60/65 band.
- US CPI, Trump-Kim meeting next of relevance in the docket.
The European currency met some selling pressure above the 1.1800 handle earlier in the session, prompting EUR/USD to recede from the area of daily highs and situate around 1.1780 region, still positive for the day.
EUR/USD looks to US data, ECB
The pair is now alternating gains with losses at the beginning of the week, coming down to the sub-1.1800 area after climbing as high as the 1.1840 region at some point during last week.
The greenback appears to have resumed the upside on Monday, regaining the vicinity of 93.70 amidst an uptick in yields of the key US 10-year note.
Positive comments from the Italian finmin over the weekend pushed the pair beyond 1.1800 the figure during early trade, although sellers turned up and forced spot to give away part of its initial gains.
It will be a key week for the pair both in the data space and event-wise, as US inflation figures and the Trump-Kim meeting are expected tomorrow, seconded by the FOMC and the ECB gathering, on Wednesday and Thursday, respectively.
EUR/USD levels to watch
At the moment, the pair is gaining 0.08% at 1.1780 facing the next hurdle at 1.1840 (high Jun.7) followed by 1.1854 (38.2% Fibo of 1.2413-1.1508) and finally 1.1998 (high May 14). On the other hand, a break below 1.1726 (low Jun.8) would target 1.1712 (10-day sma) en route to 1.1617 (low Jun.1).
