EUR/USD in a tight range around 1.1730

The single currency is up smalls vs. its American peer at the end of the week, with EUR/USD navigating a narrow range in the 1.1730 region.

EUR/USD finds support near 1.1660

Spot is extending its choppy trade so far this week and is now coming up from yesterday’s 3-week lows in the vicinity of 1.1660 amidst some renewed weakness around the greenback.

Same story around the buck this week, with gains clearly capped by the 94.00 area and always with the focus of attention on US politics and Trump’s tweets.

The demand for the shared currency seems to have come to a ‘wait-and-see’ mode, as market participants appear disappointed on recent news that President Draghi will not make any (long waited) announcements at the upcoming Jackson Hole Symposium.

In addition, the ECB minutes published on Thursday note some concerns among Council members about the exchange rate.

In the data space today, EMU’s current account figures are due later in the European morning, while the Reuters/Michigan index is only expected across the pond.

EUR/USD levels to watch

At the moment, the pair is advancing 0.06% at 1.1730 and a breakout of 1.1790 (high Aug.17) would target 1.1846 (high Aug.11) en route to 1.1894 (high Aug.3). On the flip side, the immediate support aligns at 1.1662 (low Aug.17) seconded by 1.1611 (low Jul.26) and finally 1.1587 (4-month up trend).