EUR/USD depressed around 1.1030

The shared currency remains on the defensive on Monday, relegating EUR/USD to the red territory and around the 1.1030/20 band.

EUR/USD lower on USD buying

Spot is losing ground since last Thursday following a resurgence of the buying interest around the greenback. In fact, USD has gained further legs today in response to the positive surprise from June’s Payrolls (287K) while a come back of the risk aversion sentiment has been also supporting the buck in past sessions.

Ahead in the day, Fed’s Labor Market Conditions Index is only due in the US docket followed by KC Fed E.George’s speech (voter, hawk).

Regarding positioning and according to the latest CFTC report, speculative EUR shorts have advanced to the highest levels since March 23 during the week ended on July 5.

EUR/USD levels to watch

The pair is now losing 0.15% at 1.1033 facing the next support at 1.0999 (low Jul.8) ahead of 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10). On the other hand, a breakout of 1.1092 (200-day sma) would target 1.1183 (base of the 6-month rising channel) and finally 1.1233 (61.8% Fibo post-Brexit move).