EUR/USD attempts a rebound to 1.1370 post-ISM

Pablo Piovano FXStreet

The single currency is looking to rebound from session lows vs. the buck, with EUR/USD now navigating the 1.1360/70 band.

EUR/USD supported around 1.1360

The pair is showing some fresh bids despite the US ISM manufacturing came in above expectations in June at 57.8 vs. 55.2 initially forecasted.

Tracked b the US Dollar Index, the buck has faded the bullish attempt to the vicinity of the critical 96.00 handle in spite of the upbeat sentiment surrounding yields in the US money markets.

EUR/USD levels to watch

At the moment, the pair is retreating 0.47% at 1.1372 and a break below 1.1358 (low Jul.3) would open the door to 1.1280 (10-day sma) and then 1.1244 (21-day sma). On the other hand, the next up barrier is located at 1.1448 (2017 high Jun.30) seconded by 1.1466 (high Apr.12 2016) and finally 1.1616 (high May 3 2016).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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