EUR/USD headed to below 1.1100?

Currently, EUR/USD is trading at 1.1145, up 0.10% on the day, having posted a daily high at 1.1156 and low at 1.1127.

EUR/USD is consolidating within a relatively wide range at the bottom of this June sell off from just below the 1.13 handle down to 1.1118 recent lows. The price now needs to close below the 1.1119 fibo level (38.2% Fibo of the May-June rise at 1.21121 ) for a convincing continuation of the downtrend. There is very little on the cards in terms of fundamentals from the calendar at least this week for the pair, and just today, the home sales data was largely ignored with price action coming in before that news for today.  Instead, eyes remain focused on the performance of the DXY and yields. The US ten-year is up +0.24% at 2,1617 while the dollar is down -0.10% at 97.66 currently, also consolidating. 

EUR/USD levels

EUR/USD: Sell into rebounds to 1.12 - Westpac

On a quiet day so far, the daily slow stochs continue to head lower and 1.1100 is eyed below the 1.1110 as the daily low on May 30. Then, 1.1073 (76.4% Fibo of 1.1300-1.0339) en route to 1.0986 (55-day sma). Onthe flip side, a rally on the 1.11 handle has the 1.1208 (20-day sma) ahead of the key upsaie target of 1.1296 (2017 high Jun.14).