EUR/USD back to square one

By FXStreet FXStreet (Córdoba) – EUR/USD completed a round trip to above 1.1200 and is back to square one as the greenback managed to take back early losses during the European session.

EUR/USD climbed to a peak of 1.1229 but failed to sustain gains and fell all the way back to the 1.1150 area, retracing completely the intraday advance. At time of writing, the pair is trading at 1.1163, virtually unchanged on the day as it goes through consolidative trade.

No first-tier data is scheduled for the NY session with with the labor market conditions index and consumer credit on tap. Later on the day, Fed’s Kocherlakota (non-voter, dove) is due to speak on monetary policy.

EUR/USD levels to watch

In terms of technical levels, immediate supports are seen at 1.1120 (Sep 7 low/100-day SMA), 1.1086 (Sep 3 low) and then 1.1058 (Aug 17 low). On the other hand, resistances could be found at 1.1229 (Sep 8 high), 1.1243 (Sep 3 high) and 1.1265 (200-day SMA).
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Source:: FX Street