EUR/USD now sidelined below 1.20 ahead of US docket

• The pair faded the earlier spike above the 1.2000 handle.
• US 10-year yields drop to fresh lows in the 2.95% neighbourhood.
• US ISM Non-manufacturing, Trade Balance, Initial Claims next on tap.

The single currency keeps the positive note intact so far today and is now taking EUR/USD to the area of 1.1980, where it is looking to consolidate.

EUR/USD attention now on US calendar

The pair eased from tops beyond 1.2000 the figure and it seems to have found some comfort zone around 1.1980 ahead of key US data releases and the more significant US Non-farm Payrolls due tomorrow.

Spot paid little-to-none attention to lower-than-expected inflation figures in Euroland for the month of April, where headline prices are seen rising 1.2% YoY and 0.7% YoY when comes to core prices. Despite the CPI release missed expectations, market participants seem to link the lower print to Easter timing.

Still in the euro area, ECB’s P.Praet said that recent data results point to ‘moderation of euro economy’.

Looking ahead, US ISM Non-manufacturing will be the salient event later today seconded by Trade Balance figures, Durable Goods Orders, Factory Orders and weekly Initial Claims.

EUR/USD levels to watch

At the moment, the pair is up 0.20% at 1.1975 and a break above 1.2033 (high May 2) would target 1.2113 (10-day sma) en route to 1.2210 (high Apr.26). On the other hand, the immediate support lines up at 1.1938 (low May 2) seconded by 1.1916 (2018 low Jan.19) and finally 1.1718 (monthly low Dec.12 2017).