FXStreet (Edinburgh) - After a brief knee-jerk to the area of 1.0940 in early trade, EUR/USD is now returning to the upper bound of the range near 1.0960/70. EUR/USD bounces off 1.0940 The pair has come lower to test the area of 1.0940/35 following comments by ECB’s B.Coeure, who reiterated the flexible condition of the current QE programme although he acknowledged that low levels of inflation overseas remain a risk. Choppy trade prevails so far ahead of US Retail Sales (0.3% exp.) and the Reuters/Michigan index, although gains appear limited around 1.0970 for the time being. Back to Euroland, German CPI has matched the preliminary prints for the month of November, with consumer prices advancing at an annual pace of 0.4%. EUR/USD levels to consider At the moment the pair is up 0.13% at 1.0960 with the next hurdle at 1.0973 (55-day sma) followed by 1.1063 (high Dec.9) and then 1.1124 (61.8% Fibo of 1.1496-1.0524). On the other hand, a break below 1.0895 (38.2% Fibo of 1.1496-1.0524) would aim for 1.0524 (low Dec.3) and finally 1.0519 (low Apr.13). ------- What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18th and get the recording too. ------- For more information, read our latest forex news.