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  • The pair rebounds from earlier lows in the 1.1730 region.
  • The greenback remains subdued albeit still above 94.00.
  • ECB-speak, trade, risk trends driving sentiment in the pair.

After briefly testing daily lows in the proximity of 1.1730, EUR/USD managed to get some traction and is now flirting with session tops in the 1.1760 zone.

EUR/USD looks to ECB, data

Spot is looking to add to yesterday’s small advance after once again failing to move further north of the critical 1.1800 the figure.

The hawkish message from President Mario Draghi at his speech before the European Parliament sponsored the bull run to the 1.1800 handle and above, although the move lacked of follow through.

In the meantime, US-China trade jitters appear to be almost fully priced in by market participants, removing its relevance as a market mover, particularly for the greenback.

Event wise in Euroland ECB Board members P.Praet and B.Coeure are due to speak. Across the pond, all eyes will be on US Consumer Confidence by the Conference Board.

EUR/USD levels to watch

At the moment, the pair is up 0.09% at 1.1760 and a breakout of 1.1815 (high Sep.24) would target 1.1853 (monthly high Jun.14) en route to 1.1946 (200-day SMA). On the flip side, the next support aligns at 1.1701 (10-day SMA) followed by 1.1662 (21-day SMA) and then 1.1526 (low Sep. 10).