EUR/USD looks past data, clings to 1.1300
FXStreet (Córdoba) – EUR/USD inched lower and briefly dipped back below the 1.13 mark despite the latest series of US data came in below expectations.
US retail sales rose 0.2% in August versus 0.3% expected, while September US Empire State manufacturing index fell to -14.67 against -0.75 expected. Separated data showed industrial production fell by 0.4% in August, more than the 0.2% drop expected.
Investors continue to look past data ahead of the Federal Reserve meeting on Thursday when the FOMC could rise interest rates for first time in nearly a decade.
The dollar moved a few pips but overall it continued to trade in a range around 1.1300 against the euro. At time of writing, the pair is trading at 1.1307 EUR/USD, a few pips below its opening price.
EUR/USD levels to watch
As for technical levels, next supports are seen at 1.1283 (Sep 14 low), 1.1253 (Sep 11 low) and 1.1240 EUR/USD (200-day SMA). On the other hand, resistances could be found at 1.1328 (Sep 15 high), 1.1372 (Sep 14 high) and 1.1400 EUR/USD (psychological level).
EUR/USD inched lower and briefly dipped back below the 1.13 EUR/USD mark despite the latest series of US data came in below expectations.
(Market News Provided by FXstreet)