Positive EU figures boosted demand for the single currency. However, the further upside of the euro is limited amid risk-off due to the virus outbreak in China.
The main scenario is a pull back towards the 1.1100 area.
An alternative scenario is a break below 1.1080.
If the euro bounces from 1.1080, the tone would favor further gains towards 1.1100.
The euro may fall to 1.1060 when sellers regain 1.1080.