EUR/USD moves toward 1.1000, FOMC minutes eyed

EUR/USD has extended losses to fresh 2 ½-month lows on Wednesday, while investors attention poises solely on the minutes of the latest FOMC meeting, which will be published later today.

The greenback retains a bid tone, having dragged EUR/USD to a low of 1.1008 in recent dealings, level not seen since Jul 27.  The euro seems unablñe to take a breather, having dropped around 200 pips ever since peaking above 1.12 post-NFP on Friday.

The Fed will publish its latest meeting minutes at 18:00 GMT and investors will be scrutinizing the language for clues on whether the bank is ready for another rate hike and when.

EUR/USD levels to watch

At time of writing, EUR/USD is trading at 1.1017, recording a 0.32% loss on the day. In terms of technical levels, immediate supports are seen at 1.1000 (psychological level) , 1.0960 (Jul 27 low) and 1.0911 (Jun 24 low). On the other hand, resistances line up at 1.1067 (Oct 12 high), 1.1141 (Oct 11 high), 1.1170 (200-day SMA) and 1.1200 (50-day SMA/psychological level).