EUR/USD muted on US data, around 1.1080

The common currency kept the composure after US releases today, with EUR/USD hovering over the 1.1080/70 band.

EUR/USD still weak after data

The pair keeps the bearish note following upbeat results from the ADP report, which showed the US private sector has added 172K jobs during last month, beating expectations at 159K and up from May’s 168K (revised from 173K).

Further results saw Initial Claims rising less than expected to 254K during last week, taking the 4-Week Average to 264.75K from 267.25K.

In the meantime, spot keeps the daily range with gains so far capped around the critical 200-day sma in the 1.1100 neighbourhood and pullbacks finding decent support around 1.1040, Wednesday’s lows.

EUR/USD levels to watch

The pair is now losing 0.23% at 1.1073 and a break below 1.1029 (low Jul.6) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10). On the other hand, the initial resistance aligns at 1.1171 (base of the 6-month rising channel) ahead of 1.1184 (high Jul.5) and then 1.1262 (55-day sma).