EUR/USD wobbling around 1.1100, ADP eyed

The single currency is trading on a firm note on Thursday, sending EUR/USD to test the 1.1100 area.

EUR/USD bolstered by risk, focus on US ADP

Spot has managed to revert yesterday’s drop to the 1.1030 region and regained the key area surrounding the 200-day sma near 1.1100 the figure, as risk appetite trends seems to be back into play.

Ahead in the session, German Industrial Production figures are due ahead of the ECB minutes. Across the pond, the ADP employment report is expected to come in at just below 160K, seconded by the weekly figures from Initial Claims.

EUR/USD levels to watch

The pair is now losing 0.03% at 1.1096 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).