EUR/USD clings to 1.1200

EUR/USD continues to get back to the 1.1200 area despite wide intraday ranges seen over the last days.

The euro rallied on Tuesday on the back of a report suggesting the ECB might taper QE program before it concludes. EUR/USD rose more than a hundred pips on the news but the upside was capped by the 1.1240 zone.

Despite a brief dip below 1.1200 in the wake of US ISM non-manufacturing data, EUR/USD is back above the psychological level, last seen at 1.1205, virtually unchanged on the day.

EUR/USD technical levels

In terms of technical levels, immediate supports are seen at  1.1137 (Oct 4 low), 1.1122 (Aug 31 & Sep 21 low) and 1.1100 (psychological level). On the flip side, resistances line up at 1.1250/58 (Sep 30 high/Sep 27 high), 1.1283 (Sep 15 high) and 1.1326 (Sep 8 high).