Back
1 Sep 2015
EUR/USD gravitates around 1.1250
FXStreet (Córdoba) - EUR/USD has continued to trade well-within its daily range, unable to set short-term direction and uninspired by the latest series of mixed US data as investors gear up for the ECB meeting on Thursday and the nonfarm payrolls on Friday.
EUR/USD peaked at 1.1330 during the European session but faced selling pressure at the 200-hour SMA and slid all the way back to 1.1230. The pair has spent the last hours in a range around 1.1250 and it was last trading at 1.1253, still 0.39% above its opening price.
Mixed US data fails to drive the dollar
On the data front, the ISM PMI showed August manufacturing activity expanded at its slowest pace in more than 2 years (51.1 versus 52.6 expected), while July construction spending rose 0.7% to the highest level since May 2008.
EUR/USD technical levels
As for technical levels, on the upside next resistances are seen at 1.1298/1.1300 (200-day SMA/psychological level), 1.1331 (Sep 1 high) and 1.1364 (Aug 27 high). On the downside, supports could be faced at 1.1207 (Sep 1 low), 1.1157/55 (21-day SMA/Aug 28 low).
EUR/USD peaked at 1.1330 during the European session but faced selling pressure at the 200-hour SMA and slid all the way back to 1.1230. The pair has spent the last hours in a range around 1.1250 and it was last trading at 1.1253, still 0.39% above its opening price.
Mixed US data fails to drive the dollar
On the data front, the ISM PMI showed August manufacturing activity expanded at its slowest pace in more than 2 years (51.1 versus 52.6 expected), while July construction spending rose 0.7% to the highest level since May 2008.
EUR/USD technical levels
As for technical levels, on the upside next resistances are seen at 1.1298/1.1300 (200-day SMA/psychological level), 1.1331 (Sep 1 high) and 1.1364 (Aug 27 high). On the downside, supports could be faced at 1.1207 (Sep 1 low), 1.1157/55 (21-day SMA/Aug 28 low).