EUR/USD holding above 1.1400, set for a break higher for Monday

• Risk appetite opens on the upside as the Greenback steps lower.
• Despite last week’s data beat for the US, Powell’s talking continues to erode the USD.

EUR/USD is ticking around on the north end of 1.1400 through Monday’s early trading session as risk appetite finds a bid to kick off the new trading week, which will see a large portion of volumes returning to the fold following the holiday slowdown, and market sentiment is testing higher as investors hope for a successful turnout from Trump-Xi meetings on the 7th and 8th this week.

Despite the Eurozone’s miss on inflation and the US’ firm beat on NFP Friday last week, the pair remains exactly where it was before, as market participants continue to focus largely on the US Federal Reserve, and Fed chairman Jerome Powell, whose words last week helped to fuel prospects of a slowing in the Fed’s current path of rate hikes, keeping the US Dollar at bay for the time being.

Monday sees a quiet start to the week’s economic data, with German and European Retail Sales followed by US ISM and Manufacturing Orders, though the data remains notably low-tier as investors stand in place and await further developments on interest rates, China trade, and a growing economic slowdown.

EUR/USD Technical Levels