EUR/USD looks for direction near 1.1160

The single currency is trading almost unchanged vs. the greenback at the beginning of the week, taking EUR/USD to the 1.1160 region.

EUR/USD returns from 1.1220

Spot has faded Friday’s spike to the area of 1.1220 following a disappointing report from US Retail Sales during last month, looking to stabilize at current levels amidst a generalized absence of direction in the global markets.

Nothing scheduled today in the euro area will surely leave the pair’s price action to the mercy of the RO-RO trends, while the German/EMU ZEW Survey will grab all the attention on Tuesday.

EUR/USD levels to watch

The pair is now up 0.01% at 1.1162 and a break above 1.1224 (high Aug.12) would open the door to 1.1236 (high Aug.2) and finally 1.1263 (50% Fibo of the May-June down move). On the flip side, the immediate support aligns at 1.1090 (200-day sma) ahead of 1.1043 (low Aug.5) and then 1.0950 (low Jul.25).