- The pair has started the week on the defensive near 1.1550.
- The greenback stays bid in the 95.59 area, or daily highs.
- US-China trade jitters picked up pace over the weekend.
The sentiment around the European currency remains subdued at the beginning of the week and takes EUR/USD to the 1.1550/40 band ahead of the opening bell in Euroland.
EUR/USD looks to trade, USD
The pair is trading with losses for the third session in a row on Monday amidst renewed trade jitters between China and the US after President Trump opened the door for extra tariffs over the weekend.
In addition, market participants continue to digest Friday’s US Payrolls figures, where the economy created more jobs than expected (201K) and wage inflation pressures surprised to the upside.
Data wise in Euroland, the Sentix index will be the sole publication later in the morning, whereas the speech by Atlanta Fed R.Bostic is only due across the pond.
EUR/USD levels to watch
At the moment, the pair is losing 0.03% at 1.1549 and a break below 1.1508 (low May 29) would target 1.1449 (50% Fibo of the 2017-2018 up move) and finally 1.1299 (2018 low Aug.15). On the upside, the next hurdle aligns at 1.1659 (high Sep.6) seconded by 1.1734 (high Aug.28) and finally 1.1745 (high Jul.31).
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