EUR/USD remains under pressure after US data

EUR/USD continues to trade with a downward bias on Monday, as the dollar has managed to take back some of its recent losses while Eurozone data weighed on the euro.

EUR/USD pulled back from a peak of 1.0991 scored last Friday on the back of news that the FBI will reopen Clinton’s email case a few days before the Presidential elections. However, the pair started the week on the defensive, having fallen to a low of 1.0939 so far.

The dollar barely moved after data showed personal spending rose 0.5% in September from a month earlier (0.4% expected), while personal income gained 0.3% (0.4% expected). The personal consumption expenditures (PCE) price index, the Fed's preferred gauge of inflation, rose 0.2% in September from the prior month and 1.2% from a year earlier. That was the strongest annual pace since November 2014.     

EUR/USD levels to watch

At time of writing, EUR/USD is trading at 1.0940, down 0.44% on the day. In terms of technical levels, next supports could be found at 1.0925 (10-day SMA), 1.0873 (Oct 26 low), 1.0850 (Oct 25 low) and 1.0821 (Oct 3 low). On the flip side, resistances are seen at 1.0991 (Oct 26 high), 1.1000/04 (psychological level/Oct 19 high) and 1.1038 (Oct 20 high).