EUR/USD stays near daily lows, holds onto weekly gains

EUR/USD stays near daily lows, holds onto weekly gains
FXStreet (Córdoba) – EUR/USD is going through a consolidation phase near daily lows at the beginning of the New York session following a series of downbeat PMI reports from China and the Eurozone.

EUR/USD retreated from the 1.1000 area and bottomed out at 1.0925, roughly at the same level it did yesterday before steading in a range. Having spent the last hours within 1.0925-1.0960, EUR/USD is currently trading at 1.0943, recording a 0.35% loss on the day.

However, the euro is on track to post mild weekly gains, having recovered from monthly lows just above 1.0800.

Busy week ahead

Trading will likely remain subdued during the next hours in the absence of first-tier data as investors attention turns to a busy schedule next week, including FOMC’s monetary policy decision.

EUR/USD levels to watch

In terms of technical levels, EUR/USD could find immediate supports at 1.0925/21 (Jul 24 & 23 low), 1.0900 (psychological level) and 1.0869 (Jul 22 low). On the other hand, resistances are seen at 1.1000 (psychological level/100-day SMA), 1.1017 (Jul 23 high) and 1.1035 (Jul 15 high).
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EUR/USD stays near daily lows, holds onto weekly gains
Source: FXStreet