EUR/USD bounces off lows, re-tests 1.1140

The shared currency has now managed to leave the area of session lows vs. the dollar, lifting EUR/USD back to the 1.1140 region.

EUR/USD bid post-US claims

The pair grabbed some bids after US Initial Claims have missed expectations during last week, rising to 269K vs. 265K expected, and taking at the same time the 4-Week Average to 260.25K from 256.50K. Next on tap will be US Factory Orders, expected to have contracted 1.8% MoM in June.

In the meantime, spot has fully faded the spike to weekly highs above the 1.1200 handle, easing around a cent to today’s troughs in the 1.1115/10 band.

EUR/USD levels to watch

The pair is now losing 0.08% at 1.1140 facing the initial support at 1.1079 (200-day sma) ahead of 1.0950 (low Jul.25) and then 1.0913 (post-Brexit low Jun.24). On the other hand, a break above 1.1233 (high Aug.2) would open the door to 1.1235 (100-day sma) and then 1.1285 (base of the 8-month rising channel).