EUR/USD turns negative near 1.1050

The single currency has now slipped into the negative territory vs. the greenback, sending EUR/USD back to the 1.1050 area.

EUR/USD attention to data, risk trends

The pair is reverting two consecutive days with gains so far, as risk appetite trends now appear to be losing some upside traction. Anyway, spot keeps the consolidative theme unchanged around current levels, with gains so far capped at yesterday’s tops near 1.1130.

Data wise in Euroland, final French CPI rose 0.1% MoM in June vs. 0.2% expected, while Spanish consumer prices have matched expectations, up 0.5% inter-month. In China, June’s trade surplus shrunk to CNY 311.2 billion, with Exports rising 1.3% YoY and Imports contracting more than expected 2.3% YoY.

EUR/USD levels to watch

The pair is now losing 0.12% at 1.1048 and a breakdown of 1.0999 (low Jul.8) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10). On the flip side, the next up barrier aligns at 1.1126 (high Jul.12) followed by 1.1147 (20-day sma ) and finally 1.1196 (base of the 6-month rising channel).