EUR/USD comes back to test 1.1000

By FXStreet FXStreet (Edinburgh) – After clinching session tops in the 1.1100 neighborhood, EUR/USD has fade the spike and is now testing the critical 1.1000 barrier.

EUR/USD surrenders gains

The pair has quickly gained traction following today’s miss from the US Employment Cost Index, rising below expectations 0.2% during the second quarter. Further data also showed Consumer Confidence tracked by the Reuters/Michigan index failing to meet consensus, all collaborating with the downward trend in the dollar.

The pair recovered part of the ground lost in previous sessions, although it keeps struggling to close its second week with gains.

EUR/USD key levels

At the moment the pair is up 0.71% at 1.1010 with the next resistance at 1.1114 (high Jul.31) followed by 1.1130 (high Jul.27) and finally 1.1197 (high Jul.13). On the downside, a breach of 1.0920 (low Jul.31) would aim for 1.0869 (low Jul.22) en route to 1.0811 (low Jul.21).
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Source:: FX Street