EUR/USD slips to lows near 1.1120

The single currency remains on the defensive on Tuesday, now dragging EUR/USD to test the area of session lows near 1.1120.

EUR/USD focus on data, risk

EUR met renewed selling pressure today as risk appetite sentiment seems to have ebbed for the time being, prompting spot to extend the sideline pattern below the base of the rising 6-month channel, today at 1.1177.

Ahead in the session, Services PMIs are due in the euro area followed by EMU’s Retail Sales for the month of May, while Factory Orders and the speech by FOMC’s Dudley are expected across the pond as US markets will return to usual business.

EUR/USD levels to watch

The pair is now losing 0.26% at 1.1125 and a break below 1.0913 (post-Brexit low Jun.24) would open the door to 1.0820 (low Mar.10) and finally 1.0709 (low Jan.5). On the other hand, the initial resistance aligns at 1.1177 (base of the 6-month up-channel) followed by 1.1202 (20-day sma) and then 1.1266 (55-day sma).