EUR/USD breaks below 1.1200 post-ISM

The common currency is now losing the grip vs. the dollar today, with EUR/USD now putting the 1.1200 key support to the test.

EUR/USD weaker on upbeat ISM

Spot has returned to the negative territory after US ISM Non-manufacturing has surpassed estimates during September, coming in at 57.1 vs. 53.0 expected and August’s 51.4.

Further auspicious results saw Factory Orders expanding at a monthly 0.2%, while Services PMI gauged by Markit has followed suit, up to 52.3 from 51.9 in the previous month.

EUR/USD levels to watch

The pair is now losing 0.10% at 1.1193 facing the next support at 1.1165 (200-day sma) followed by 1.1097 (2014-2016 support line) and then 1.1043 (low Aug.5). On the upside, a break above 1.1268 (resistance line off 2016 high) would target 1.1279 (high Sep.26) en route to 1.1329 (high Sep.8).