EUR/USD comes to test 1.1300 post-US data

The single currency is shedding some pips following the release of US data today, prompting EUR/USD to return to the 1.1300 neighbourhood.

EUR/USD gains capped near 1.1340

The pair left the area of daily highs near 1.1340 after Americans that filed in their first initial claim for regular state unemployment-insurance benefits increased to 262K WoW vs. 265K forecasted, taking the 4-Week Average to 265.25K from 262.75K.

Further data showed the Philly Fed manufacturing index matching estimates at 2.0 for the current month, up from July’s -2.9.

Ahead in the session, USD will remain in the limelight as FOMC’s Dudley and Williams are due to speak.

EUR/USD levels to watch

The pair is now advancing 0.19% at 1.1311 with the next hurdle at 1.1346 (61.8% Fibo of the May-June down move) followed by 1.1434 (high Jun.24) and then 1.1465 (78.6% Fibo of the May-June down move). On the downside, a breach of 1.1252 (2014-2016 trendline prev. resistance now support) followed by 1.1179 (38.2% Fibo of the May-June down move) and then 1.1161 (55-day sma).