EUR/USD cold-shouldered German factory orders data

By FXStreet FXStreet (Mumbai) – The drop in the German factory orders received little or no attention from the EUR/USD pair, which continues to trade around the pre-data figure of 1.1130-1.1135.

Supported by 100-DMA

The spot managed to sustain above the 100-DMA located at 1.1112 levels on closing basis despite the onslaught of the EUR bears after the CB announced more flexibility to its QE program and kept the doors open for an increase in its size if required.

The focus now is on the US non-farm payrolls report due for release later today. The US government is expected to report this Friday that the economy has added 220K new jobs in August and that the unemployment rate ticked down to 5.2%.

EUR/USD Technical Levels

The immediate support is seen at 1.1112 (100-DMA), under which the spot could target 1.1081 (50-DMA). On the other hand, resistance is seen at 1.1155 (Aug 28 low) and 1.12 levels.
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Source:: FX Street