EUR/USD off highs, eases to 1.1250

By FXStreet FXStreet (Edinburgh) – The common currency is now losing its shine vs. the dollar, pushing EUR/USD to the mid-1.1200s after climbing as high as 1.1330 in early trade.

EUR/USD now focuses on US data

The pair has retreated from session highs in the 1.1330/35 band following the initial bias towards the risk-off sentiment and mixed results from manufacturing PMIs. However, the spike to multi-day tops around 1.1330 lacked of follow through and triggered the current correction lower.

In the data front, US ISM Manufacturing and Markit’s Manufacturing PMI are due later, ahead of Non-farm Payrolls due on Friday and against the backdrop of increasing expectations of a Fed’s lift-off in September.

EUR/USD key levels

At the moment the pair is advancing 0.41% at 1.1257 and a breakout of 1.1333 (high Sep.1) would target 1.1364 (high Aug.27) en route to 1.1388 (high Aug.21). On the flip side, the immediate support lines up at 1.1207 (low Sep.1) followed by 1.1170 (low Aug.31) and finally 1.1156 (low Aug.28).
For more information, read our latest forex news. …read more

Source:: FX Street