EUR/USD keeps 1.1200 post-ADP, US ISM eyed

EUR/USD briefly tested the 1.1210 area in the wake of the ADP report on Wednesday, although it has quickly returned to the comfort area near 1.1220.

EUR/USD unchanged on data

The pair met extra upside pressure after US ADP report showed the private sector has created 154K jobs during September, missing forecasts for 166K and down from August’s 175K (revised from 177K).

Later in the NA session, Trade Balance figures, Markit’s Services PMI, Factory Orders and the ISM Non-manufacturing will keep the focus on the US dollar ahead of the EIA’s weekly report on crude oil inventories.

Of note during the European morning is the slip to record lows of the shares of the Italian lender Monte Dei Paschi Di Siena (BMPS), currently shedding more than 4% to levels near 0.17.

EUR/USD levels to watch

The pair is now up 0.05% at 1.1210 and 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). On the other hand, the next support aligns at 1.1165 (200-day sma) followed by 1.1097 (2014-2016 support line) and then 1.1043 (low Aug.5).