- The pair keeps the familiar range around 1.1800 post-German ZEW
- German/EMU ZEW missed consensus for the month of June.
- US inflation figures tracked by the CPI next of relevance in the docket.
The softer tone around the greenback is now allowing EUR/USD to retake the 1.1800 neighbourhood and return to the positive territory on Tuesday.
EUR/USD now looks to data
The optimism following the Trump-Kim meeting has given some support to the buck in early trade, relegating the pair to the area of daily lows near 1.1740, where it appears to have found some decent support.
However, the up move in the greenback lacked of follow through, motivating spot to regain some ground lost and trade back around the 1.1800 neighbourhood.
In the data space, the German/EMU ZEW Survey came in below expectations for the month of June, although the European currency paid little attention to the results.
Later in the NA session, US inflation figures gauged by the CPI will be the salient event ahead of tomorrow’s FOMC meeting, where market participants already anticipate another rate hike by the Committee.
EUR/USD levels to watch
At the moment, the pair is gaining 0.09% at 1.1793 and a break above 1.1840 (high Jun.7) would target 1.1854 (38.2% Fibo of 1.2413-1.1508) en route to 1.1998 (high May 14). On the other hand, initial contention lines up at 1.1726 (low Jun.8) seconded by 1.1731 (10-day sma) and finally 1.1617 (low Jun.1).
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