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EUR/USD hovers below 1.0800

FXStreet (Córdoba) - EUR/USD was rejected from the 1.0850 area at the beginning of the New York session, as decent US CPI data gave the dollar a boost and helped it to take back back losses versus major competitors.

EUR/USD fell from a high of 1.0848to a low of 1.0737 in the minutes that followed the release, but lacked momentum to stage a steeper recovery. EUR/USD has settled in a range near lows over the last hours and it was last trading at 1.0775, virtually unchanged on the day.

However, EUR/USD remains on track for a weekly gain as the dollar was heavily sold-off amid a string of disappointing domestic data.

EUR/USD levels to watch

As for technical levels, immediate supports are seen at 1.0737 (daily low), 1.0700 (psychological level) and 1.0665 (100-hour SMA). On the other hand, resistances could be found at 1.0848 (daily high) and 1.0886 (Apr 8 high) ahead of 1.0900 (psychological level).

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