EUR/USD bounces-off 200-DMA, re-takes 1.1150?

Fresh sell-off seen in the EUR/USD pair stalled at the 200-DMA support at 1.1098, allowing the bulls to attempt a minor-bounce back above 5-DMA.

EUR/USD back on 1.11 handle

Currently, EUR/USD now trades -0.09% lower at 1.1130, now looking to take on the recovery towards 1.1150 region. The main currency pair finally broke the Asian consolidation box to the downside and fell sharply to test the 200-DMA support, before finding renewed bids at the last and climbed back higher towards the familiar region around 1.1130 levels.

Meanwhile, a stalled USD rebound combined with a mild risk-aversion seen across the European markets helped lift the major from session troughs. However, the upside looks short-lived as mixed Eurozone datasets and looming Brexit uncertainty will keep the EUR undermined across the board. The latest Brexit-related headline reveals that UKIP leader Farage steps down in wake of the Brexit vote.

Nothing of note for them major in the day ahead amid thin markets as traders are away on account of Independence Day celebrations in the US. Focus now remains on the US economic releases, FOMC minutes and ECB speaks on the cards this week.

EUR/USD Technical Levels             

In terms of technicals, the pair finds the immediate resistance 1.1150 (psychological levels). A break beyond the last, doors will open for a test of 1.1198/1.1200 (20-DMA/ round number). On the flip side, the immediate support is placed at 1.1098 (Daily low/ 200-DMA) below which at 1.1069 (Jul 1 low) could be tested.