EUR/USD testing lows near 1.1520

By FXStreet The single currency has given away its initial gains vs. the dollar, now forcing EUR/USD to return to the area of session lows near 1.1520.

EUR/USD weaker on USD-buying

Spot is down almost a cent since earlier multi-month highs near 1.1620 following a sharp rebound of the greenback, which managed to come back after the US Dollar Index sunk to the 91.90 area, levels last traded in January 2015.

Nothing worth mentioning data wise today, while tomorrow’s Services PMIs in the euro area and the US ADP Employment Change (196K exp.) are poised to drive sentiment ahead of the more relevant Non-farm Payrolls on Friday.

EUR/USD levels to watch

The pair is now down 0.05% at 1.1528 facing the immediate support at 1.1358 (20-day sma) followed by 1.1220 (55-day sma) and then 1.1213 (low Apr.25). On the flip side, a breakout of 1.1615 (2016 high May 3) would target 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2).
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Source:: FX Street