EUR/USD probing daily lows near 1.1730

The European currency is navigating a narrow range on Monday and is now taking EUR/USD to the area of session lows around 1.1730.

EUR/USD upside limited near 1.1750

The pair stays apathetic amidst a mild risk-off tone in the global markets in response to NK-headlines, while traders seem to have relegated the situation in Catalonia to the backburner.

In the meantime, yields of the key US 10-year reference remain in the upper end of the recent range, hovering over the 2.36% area after climbing to the 2.40% neighbourhood in the wake of Friday’s payrolls figures.

Data wise in Euroland, German industrial production expanded well above estimates 2.6% inter-month in August, while the Sentix index is due later in the session.

Further out, speculators have increased their EUR net longs to fresh 4-week tops in the week ended on October 3, according to the latest CFTC report.

EUR/USD levels to watch

At the moment, the pair is down 0.07% at 1.1724 and a break below 1.1686 (low Oct.6) would target 1.1662 (low Aug.17) en route to 1.1601 (100-day sma). On the other hand, the next up barrier emerges at 1.1754 (10-day sma) followed by 1.1835 (55-day sma) and finally 1.1847 (21-day sma).