The offered tone around the common currency is now gathering further traction, taking EUR/USD back to the 1.0850 area.
The pair has faded the initial spike to the 1.09 neighbourhood early in the European morning following a now better tone in the US dollar. The euro met further selling pressure in response to a positive performance in the European equities, with most of the benchmark indices posting gains for the day so far.
Nothing of note data wise in the euro area, while only second tier releases are expected in the US calendar. Instead, the speeches by Fed’s Fischer and Lacker will keep investors entertained.
The pair is advancing 0.03% at 1.0855 facing the next hurdle at 1.1015 ahead of 1.1059 and finally 1.1132. On the other hand, a breakdown of 1.0860 would aim for 1.0709 and then 1.0538.