EUR/USD steady, sidelined around 1.2330

• The pair remains in consolidative mode around 1.2330.
• USD steady and close to the key 90.00 milestone.
• Fedspeak and U-Mich next on tap in the US docket.

EUR/USD is looking for direction in the lower end of the recent range following Thursday’s strong pullback to the 1.2300 neighbourhood, where sits the 10-day sma and some decent support appears to have emerged.

EUR/USD looks to risk, US data

Spot is trading within a tight range early in the European morning, always against the backdrop of a mild risk-on context, as geopolitical concerns appear somewhat mitigated for the time being.

However, the wave of buying pressure around the greenback on Thursday forced the pair to tumble around a cent from tops in the vicinity of the 1.2400 handle, although the down move halted near 1.2300 the figure.

Today’s calendar in the euro region includes German and Spanish final CPI figures for the month of March, while JOLTs Job Openings and the preliminary gauge of the US Consumer Sentiment for the current month.

EUR/USD levels to watch

At the moment, the pair is losing 0.02% at 1.2325 and a breakdown of 1.2300 (low Apr.12) would open the door to 1.2214 (low Apr.6) and finally 1.2153 (low Mar.1). On the upside, the initial hurdle emerges at 1.2397 (high Apr.11) followed by 1.2478 (high Mar.27) and then 1.2538 (high Jan.25).