EUR/USD muted post-ISM, around 1.1170

The shared currency kept the composure post-ISM today, with EUR/USD currently navigating the 1.1160/70 band.

EUR/USD offered on data

The pair remains in red figures on Monday, retreating from Friday’s highs near 1.1200 the figure despite the key US ISM Manufacturing has surprised investors to the downside, dropping to 52.6 for the month of July vs. 53.0 initially forecasted.

Spot keeps its daily narrow range nonetheless, giving away part of the strong gains registered last week amidst a renewed bid tone in USD, as markets seem to have already digested Friday’s US GDP figures.

EUR/USD levels to watch

The pair is now losing 0.09% at 1.1164 and a breakdown of 1.1077 (200-day sma) would target 1.0950 (low Jul.25) en route to 1.0913 (post-Brexit low Jun.24). On the upside, the initial hurdle lines up at 1.1200 (high Jul.29) followed by 1.1237 (100-day sma) and then 1.1274 (base of the 8-month rising channel).