EUR/USD stuck around 1.1150 ahead of US ISM

The shared currency keeps the bearish note intact on Thursday, with EUR/USD hovering over the mid-1.1100s ahead of key US data.

EUR/USD now looks to ISM

The pair has managed to revert the earlier drop to lows near 1.1130, although gains further north of the 1.1160/70 band still appear elusive for the time being.

Adding to the selling bias, final manufacturing PMIs have disappointed investors during last month, collaborating with the acceleration of the downside pressure.

Spot will remain in centre stage later today in light of the release of the critical ISM Manufacturing in the US economy, along with the weekly report on the labour market, Markit’s Manufacturing PMI and the speech by Cleveland Fed, L.Mester (voter, hawkish).

EUR/USD levels to watch

The pair is now losing 0.07% at 1.1149 and a break below 1.1128 (low Aug.30) would target 1.1121 (200-day sma) en route to 1.1043 (low Aug.5). On the flip side, the next hurdle lines up at 1.1224 (2014-2016 resistance line) followed by 1.1367 (high Aug.18) and finally 1.1434 (high Jun.24).