EUR/USD retreats from highs, back to 1.1150

By FXStreet FXStreet (Edinburgh) – EUR/USD has returned to the mid-1.1100s after a failed attempt to break above the 1.1170 area, or session highs.

EUR/USD weaker on risk, PMIs

The pair remains in the red territory today after positive results from the Chinese manufacturing PMI have given extra legs to the risk appetite trends during the Asian trading hours. In addition, September’s PMIs in the euro area came in mixed, adding to the downbeat sentiment.

Market participants will remain vigilant on the US releases ahead in the day, with the ISM Manufacturing and Initial Claims taking centre stage, followed by the speech by FOMC’s Williams.

EUR/USD levels to watch

As of writing the pair is losing 0.20% at 1.1154 and a breakdown of 1.1116 (low Sep.25) would aim for 1.1105 (low Sep.22) and then 1.1057 (low Aug.12). On the other hand, the initial resistance aligns at 1.1260 (high Sep.30) ahead of 1.1281 (high Sep.29) and finally 1.1296 (high Sep.24).
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Source:: FX Street