EUR/USD unmotivated, parked around 1.1080

The shared currency alternates gains with losses vs. the greenback on Tuesday, with EUR/USD extending its consolidation theme in the 1.1080 region.

EUR/USD attention to risk trends

Spot is challenging the area of Monday’s lows in the vicinity of 1.1070 as the bid tone around the US dollar remains unchanged. In fact, the USD Index is extending its rally since last week’s lows in sub-95.00 levels, advancing so far for the fifth consecutive session.

On the data front, German trade surplus shrunk to €21.7 billion during June, while second-tier releases are due across the pond later today: Q2’s Non-farm Productivity and Unit Labor Costs and the Economic Optimism index tracked by IBD/TIPP.

EUR/USD levels to watch

The pair is now losing 0.06% at 1.1079 facing the immediate support at 1.1043 (low Aug.5) followed by 1.0950 (low Jul.25) and then 1.0913 (post-Brexit low Jun.24). On the flip side, a breakout of 1.1150 (55-day sma) would open the door to 1.1236 (high Aug.2) and finally 1.1263 (50% Fibo of the May-June down move).