EUR/USD enters holiday mode after recovering from lows

EUR/USD recovered from European session lows and erased intraday losses over the last hours, before entering a consolidation phase amid low volume given the US Independence Day.

EUR/USD started the day on the back foot and dropped to a low of 1.1097, but found support at the 200-day SMA and staged a half-a-cent bounce toward 1.1147. However, the pair lost upside momentum and settled in a range over the last hours. At time of writing, EUR/USD is trading at 1.1137, virtually unchanged on the day.

EUR/USD levels to watch

As for technical levels, immediate resistances could be found at 1.1154/59 (Jun 29 high/10-day SMA), 1.1228 (100-day SMA) and 1.1270 (50-day SMA). On the other hand, supports are seen at  1.1097 (200-day SMA), 1.1023 (Jun 30 low) and 1.0970 (Jun 27 low).