EUR/USD Attempts to Regain 1.1200 after Fresh Lows
EUR/USD
stretched to fresh 7-week lows sub-1.1200 at the beginning of the New
York session amid a stronger greenback on the back of hawkish FOMC
minutes published the previous day. Not even a series of disappointing
US data hurt the dollar, with EUR/USD only recovering a few pips on the
news.
EUR/USD bottomed out at 1.1179, marking its lowest level since March 29,
but managed to bounce slightly toward the 1.1200 zone most recently. At
time of writing, the pair was trading at 1.1198, still 0.14% down on
the day.
On the data front, US jobless claims rose to 278K in the week ended May
13, above 275K expected while the Philly Fed Manufacturing index printed
-1.8 in May, far below the +3.5 expected.
EUR/USD levels to watch
In terms of technical levels, immediate supports are seen at 1.1149
(100-day SMA), 1.1100 (200-day SMA/psychological level) and 1.1057 (Mar
16 low). On the flip side, resistances line up at 1.1230 (May 19 high),
1.1315 (50-day SMA/May 18 high) and 1.1356 (20-day SMA).
