EUR/USD comes down to test 1.0560 ahead of US data

The single currency is now facing increasing selling pressure, dragging EUR/USD to test session lows in the 1.0560 area.

EUR/USD weaker as Dollar picks up

The pair has deflated to the lower bound of the daily range as the demand for the greenback as regained traction for the time being, pushing the US Dollar Index back to the positive territory near the key barrier at 102.00 the figure.

USD dynamics keep ruling the sentiment in the global markets, while positioning and the upcoming press conference by president-elect Donald Trump seem to have been undermining the recent upbeat mood around the buck in an otherwise vacuum of publications and significant events.

Nothing worth mentioning data wise in Euroland today, whereas the NFIB Business Optimism index has come in above expectations in December ahead of the more relevant November’s JOLTs Job Openings due later.

EUR/USD levels to watch

The pair is now losing 0.05% at 1.0570 and a breakdown of 1.0508 (low Jan.9) would target 1.0475 (20-day sma) en route to 1.0387 (low Jan.4). On the flip side, the next hurdle aligns at 1.0627 (high Jan.10) followed by 1.0654 (spike Dec.30) and finally 1.0658 (55-day sma).