EUR/USD stays close to 1.0800, ECB-speak eyed

The single currency has retaken the upper 1.0700s vs. the buck in the second half of the week, lifting EUR/USD back around the 1.0800 handle.

EUR/USD attention to ECB speakers

The resumption of the offered bias around the greenback has allowed the pair to bounce off yesterday’s lows in the 1.0730/25 band to the current 1.0800 neighbourhood.

In fact, the neutral-to-dovish message (if any message at all) by the FOMC at its meeting on Wednesday prompted USD-sellers to return to the markets, dragging at the same time the US Dollar Index from its unfruitful assault to the 100.00 handle to the current area of multi-week lows near 99.40.

In the meantime, spot manages well to keep the trade around 2-month tops, propped up by the Trump-led leg lower in the buck and some supportive data in the euro bloc as of late (ie Q4 GDP and CPI both rising above expectations).

Looking ahead, speeches by ECB’s President M.Draghi and Board Members P.Praet, B.Coeure, J.Dickson and I.Angeloni should keep investors entertained ahead of second-tier releases across the pond.

EUR/USD levels to watch

The pair is now gaining 0.25% at 1.0796 facing the next up barrier at 1.0814 (high Feb.1) ahead of 1.0820 (50% Fibo retracement of the Nov-Jan drop and low Mar.10 2015) and then 1.0848 (low Oct.25 2015). On the other hand, a breakdown of 1.0729 (low Feb.1) would open the door to 1.0681 (low Jan.31) and finally 1.0665 (20-day sma).