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EUR/USD softer, deflates to 1.1170

FXStreet (Edinburgh) - The shared currency keeps the negative territory at the beginning of the week, now taking EUR/USD to the 1.1170/65 band, closer to session lows.

EUR/USD eyes on US docket, Fedspeak

The pair keeps alternating gains with losses today, trading in a narrow range and with bullish attempts capped by the 1.1215/20 band so far. News around Euroland noted that ECB’s S.Lautenschlaeger regarded market chatter about modifying QE as premature.

Ahead in the day, market participants will remain vigilant on several speeches by Fed members, although D.Tarullo already argued that the US economy keeps gaining momentum.

EUR/USD levels to watch

As of writing the pair is losing 0.20% at 1.1170 and a breach of 1.1164 (low Sep.28) would open the door to 1.1105 (low Sep.23) ahead of 1.1089 (low Sep.4). On the flip side, the next hurdle aligns at 1.1215 (high Sep.28) followed by 1.1234 (high Sep.25) and then 1.1296 (high Sep.24).

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