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EUR/USD muted post-data

FXStreet (Edinburgh) - The common currency remains in a narrow range on Monday, with the EUR/USD gyrating around the 1.2540 level.

EUR/USD ignored the Sentix

Spot kept the composure after the Sentix index, which gauges investors’ confidence in the euro bloc, dropped to -13.7 for the month of October, missing estimates at -12.1 and lower than September’s -9.8. The uncertainty surrounding the EUR remains alive following last week’s ECB meeting, after President Draghi failed to shed more light regarding the future of the central bank’s balance sheet. All in all, the USD started the week in a softer tone, allowing some kind of rebound in the risk-associated universe, with EUR looking to put further distance from recent ytd lows in the 1.2500 neighbourhood.

EUR/USD levels to watch

As of writing the pair is up 0.18% at 1.2540 with the next resistance at 1.2676 (high Oct.3) followed by 1.2699 (high Oct.2) and finally 1.2703 (10-d MA). On the downside, a breach of 1.2502 (76.4% of 1.2042-1.3995) would expose 1.2493 (low Aug.31) and then 1.2487 (low Aug.30).

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