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  • The pair remains rangebound below/at 1.1700 the figure.
  • The US Dollar stays subdued in the 94.45/40 band ahead of data.
  • US New Home Sales for the month of June are coming up next.

The sentiment around the shared currency remains subdued on Wednesday, while EUR/USD trades within a narrow range in the 1.1700 neighbourhood (and below).

EUR/USD now looks to US data, trade

The pair is prolonging the erratic trade in the middle of the week, although a breakout of the 1.1700 handle and a move further north of this critical level appears so far elusive.

In addition, spot is seen sidelined in the next hours, at least until de ECB event tomorrow. However, market participants do not expect the central bank to come up with any relevant announcements, leaving the bias slightly tilted towards the dovish tone.

Earlier in the session, the German IFO indicator surprised to the upside, whereas data from the US housing sector is due later in the day.

EUR/USD levels to watch

At the moment, the pair is gaining 0.03% at 1.1692 facing the next up barrier at 1.1749 (high Jul.23) followed by 1.1792 (high Jul.9) and finally 1.1853 (high Jun.14). On the downside, a breakdown of 1.1575 (low Jul.19) would open the door to 1.1527 (low Jun.28) and then 1.1508 (2018 low May 30).