EUR/USD eases from highs, near 1.1240

The single currency has abandoned the area of session highs, prompting EUR/USD to recede to the current 1.1240/35 band.

EUR/USD coming up from 1.1130

Spot managed to revert the sharp drop to multi-day lows in the 1.1130 region on Thursday, retaking 1.1200 and briefly visiting the vicinity of 1.1280 as the buying interest in the greenback was running out of steam.

Looking ahead, ‘Brexit’ concerns emerge as the main driver for the pair’s price action for the next sessions, relegating USD-dynamics to the passenger’s seat.

In the data space, EMU’s Current Account and Labor Costs Index are due later, while Housing Starts and Building Permits will take centre stage across the pond.

EUR/USD levels to watch

The pair is now advancing 0.11% at 1.1238 and a break above 1.1309 (55-day sma) would target 1.1366 (trendline from 1.1617) and then 1.1417 (high Jun.8). On the other hand, the immediate support aligns at 1.1131 (low Jun.16) followed by 1.1100 (200-day sma) and finally 1.1096 (low May 30).