EUR/USD depressed, door open for another test of 1.1000

The single currency is extending its weekly decline today, now dragging EUR/USD to the 1.1015/10 band.

EUR/USD attention to risk trends

Spot keeps its bearish note alive during the first half of the week, although a sustainable break below recent lows in the key 1.10 neighbourhood appears so far elusive.

Nothing worth mentioning data wise in Euroland today, while a cautious tone seems to have turned up around EUR in light of the ECB meeting due on Thursday followed by the usual press conference by President M.Draghi.

EUR/USD levels to watch

The pair is now losing 0.05% at 1.1015 and 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). On the flip side, the initial up barrier aligns at 1.1083 (200-day sma) followed by 1.1094 (20-day sma) and finally 1.1166 (high Jul.14).