EUR/USD clings to gains around 1.1080

The shared currency is advancing marginally vs. its American peer at the end of the week, with EUR/USD hovering over the 1.1080/90 band.

EUR/USD looks to EMU’s CPI

Spot has returned to sub-1.1100 levels today after climbing as high as 1.1120 on Thursday amidst a broad-based selling mood around the greenback. The pair is thus prolonging upside momentum, gaining nearly 2 cents since Monday’s lows in the mid-1.0900s.

Ahead in the session, EMU’s advanced inflation figures and GDP for the current month will keep the pressure on EUR, while the European Banking Authority (EBA) will publish its stress-test results later in the evening, with the main focus on Italian banks.

EUR/USD levels to watch

The pair is now gaining 0.04% at 1.1081 facing the initial hurdle at 1.1166 (high Jul.14) followed by 1.1184 (high Jul.5) and then 1.1260 (base of the 7-month rising channel). On the flip side, a breakdown of 1.0950 (low Jul.25) would target 1.0913 (post-Brexit low Jun.24) en route to 1.0820 (low Mar.10).