EUR/USD moves lower near the 1.1180 area. German ZEW survey next of relevance in Euroland. US CPI figures coming up next across the ocean. The shared currency is eroding part of yesterday’s gains vs. the Greenback and is now dragging EUR/USD to the area of daily lows in the 1.1190/80 band. EUR/USD now looks to data, trade The pair trades on the defensive so far on Tuesday on the back of the continuation of the rebound in the demand for the Greenback, and always against the backdrop of declining yields and unremitting ‘flight-to-safety’ stance in the global markets. Investors remain cautious despite the absence of fresh news on the US-China trade front, while new concerns on the geopolitical scenario have emerged following the recent developments in Hong Kong and the potential reaction from China, all adding extra support to the demand for safe havens. In today’s docket, final July German CPI matched the preliminary readings, showing consumer prices up 0.5% MoM and 1.7% from a year earlier. Later in the European morning, the key German ZEW survey should shed further light on the performance of investors’ morale in the first economy of the block and in the euro region for the current month. Across the pond, inflation figures tracked by the CPI will be the salient event later today seconded by the NFIB index and the API report on US crude oil inventories. What to look for around EUR The reluctance of EUR to edge lower in the current risk-off environment could be reflected in ‘repatriation’ forces currently at play as well as the potential funding stance of the currency. Italian politics has resurfaced as a source of uncertainty as of late and is expected to weigh on the sentiment sooner rather than later. Sustained bullish attempts in the pair still look flimsy amidst ECB’s preparations for a fresh wave of monetary stimulus (most likely to be announced in September), including a potential reduction of interest rates, the re-start of the QE programme and a probable tiered deposit rate system. In the meantime, the unremitting deterioration of the economic outlook in the region and the lack of traction in inflation are seen capping extra gains and are also lending extra support to the dovish stance of the ECB. EUR/USD levels to watch At the moment, the pair is retreating 0.21% at 1.1189 and faces the next down barrier at 1.1161 (low Aug.12) seconded by 1.1101 (monthly low Jul.25) and finally 1.1026 (2019 low Aug.1). On the flip side, a breakout of 1.1232 (55-day SMA) would target 1.1282 (high Jul.19) en route to 1.1292 (200-day SMA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZ: Regional divergence in housing continues – ANZ FX Street 3 years EUR/USD moves lower near the 1.1180 area. German ZEW survey next of relevance in Euroland. US CPI figures coming up next across the ocean. The shared currency is eroding part of yesterday's gains vs. the Greenback and is now dragging EUR/USD to the area of daily lows in the 1.1190/80 band. EUR/USD now looks to data, trade The pair trades on the defensive so far on Tuesday on the back of the continuation of the rebound in the demand for the Greenback, and always against the backdrop of declining yields and unremitting 'flight-to-safety' stance in the global markets. Investors remain… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.