EUR/USD within range near 1.2320/30, US PPI eyed

• The pair keeps the familiar range above the 1.2300 handle.
• USD looks to regains some bid tone albeit still below 90.00.
• US Producer Prices next of relevance in the US docket.

EUR/USD is now looking to grab some attention as the greenback appears under pressure following the opening bell in Euroland.

EUR/USD focused on US data

The pair is looking to extend the so far 2-day positive streak during the first half of the week against the backdrop of a softer tone around the buck, which appears unable to regain the critical 90.00 barrier when tracked by the US Dollar Index for the time being.

The pick up in the risk aversion is lending extra support to the safe haven assets so far today and is weighing down on the buck, collaborating with pair’s up move at the same time.

In the meantime, all eyes remain on the US-China trade dispute, although the effervescence has dissipated somewhat following Trump’s comments (via Twitter) over the weekend and yesterday’s speech by Chinese President Xi Jinping.

Later in the session, US Producer Prices will be the sole publication today ahead of tomorrow’s more relevant CPI figures and the FOMC minutes.

EUR/USD levels to watch

At the moment, the pair is gaining 0.06% at 1.2327 and a break above 1.2340 (21-day sma) would target 1.2346 (high Apr.2) en route to 1.2478 (high Mar.27). On the downside, immediate contention emerges at 1.2294 (10-day sma) seconded by 1.2214 (low Apr.6) and finally 1.2206 (low Feb.9).