EUR/USD struggling for direction near 1.1240

The single currency is navigating a narrow range on Tuesday, with EUR/USD hovering over the 1.1240/45 band for the time being.

EUR/USD focus on risk trends, DB

Spot is retreating marginally today, so far snapping a 5-session positive streak amidst a pick up in the demand for the greenback while concerns over the performance of Deutsche Bank remain a potential risk for EUR.

Ahead in the day, second tier releases in Euroland include August’s Private Loans and M3 Money Supply.

Across the pond, Markit’s Services PMI, Consumer Confidence tracked by the Conference Board and the speech by FOMC’s S.Fischer will take centre stage.

In the meantime, the pair has faded the spike to the boundaries of 1.1280 seen on Monday, with the risk-on sentiment looking to stabilize in the global markets after the recent bout following the US presidential debate between H.Clinton and D.Trump.

EUR/USD levels to watch

The pair is now losing 0.07% at 1.1246 and a breakdown of 1.1214 (20-day sma) would target 1.1154 (200-day sma) en route to 1.1119 (low Sep.21). On the flip side, the next hurdle aligns at 1.1273 (resistance line off 2016 high) ahead of 1.1329 (high Sep.8) and finally 1.1367 (high Aug.18).