EUR/USD eases from 1.1200 post-US data

EUR/USD remains bid in the upper 1.1100s following another miss in the US calendar.

EUR/USD gains capped near 1.1220

The pair shed some gains at end of the week despite the flash US Consumer Sentiment tracked by the Reuters/Michigan index has come in below expectations for the current month, recording 90.4 vs. 91.5 initially estimated.

The result adds to the previous disappointment from US Retail Sales, collaborating with the swelling selling pressure around the greenback as everything seems to point to a pause in the Fed’s hiking path.

EUR/USD levels to watch

The pair is now up 0.34% at 1.1176 and a break above 1.1236 (high Aug.2) would target 1.1263 (50% Fibo of the May-June down move) en route to 1.1296 (2014-2016 resistance line). On the flip side, the immediate support aligns at 1.1085 (200-day sma) ahead of 1.1043 (low Aug.5) and then 1.0950 (low Jul.25).