EUR/USD has quickly deflated to the 1.0980 area after a failed attempt to regain the 1.1000 handle and beyond. EUR/USD supported around the 100-day sma The pair’s current decline seems to have found decent support around the 100-day sma located just above 1.0950, triggering a bull run to the 1.1000 neighbourhood before losing vigour once again. In addition, comments by BuBa J.Weidmann have left the door open for a review of the current ECB’s stimulus package, collaborating with the daily leg lower. EUR/USD levels to watch The pair is now losing 0.34% at 1.0980 facing the next support at 1.0953 (100-day sma) ahead of 1.0809 (low Jan.29) and finally 1.0709 (YTD low Jan.5). On the other hand, a break above 1.1108 (20-day sma) would open the door to 1.1123 (38.2% Fibo of December up-move) and then 1.1220 (23.6% Fibo of December up-move). For more information, read our latest forex news.