EUR/USD attempts tepid-bounce towards 1.1350

The overnight retreat in the EUR/USD pair ran out of legs in late-Asia, with the spot now attempting a tepid-bounce back towards the mid-point of 1.13 handle.

EUR/USD awaits German PPI

Currently, EUR/USD trades -0.16% lower at 1.1335, moving slightly away from daily lows struck at 1.1328 in the last hour. The main currency pair stalled its five-day non-stop rise and edged lower this Friday, as the bulls faced exhaustion amid broad based US dollar recovery. The USD index bounces +0.24% to 94.35, testing session highs reached at 94.38 levels.

Moreover, a renewed risk-aversion wave hit the markets and hence, dampened the demand for the funding currency euro. While a lack of fresh fundamental drivers during the Asian session also kept the major suppressed.

Looking ahead, in absence of significant macro news from both continents, the major will closely track the USD price-action for fresh cues. Besides, the second-liner data in the German PPI will be published ahead of the European open.

EUR/USD Technical Levels               

In terms of technicals, the pair finds the immediate resistance 1.1367 (post-Brexit high). A break beyond the last, doors will open for a test of 1.1400 (psychological levels). On the flip side, the immediate support is placed at 1.1288 (5-DMA) below which 1.1220 (10-DMA) could be tested.