EUR/USD around 1.0670 post-ISM Manufacturing

The single currency is now picking some pace after the release of US data, lifting EUR/USD to the 1.0670 region.

EUR/USD bid after data

Fresh bids seem to be flowing into the pair after US ISM Manufacturing came in at 57.2 for the month of March, matching initial estimates. Further data saw ISM Employment surpassing forecasts at 58.9 while ISM New Orders came in a tad lower at 64.5.

Spot has recovered from last week’s sharp sell off, as the sentiment around the buck appears to have eased somewhat at the beginning of the week.

Looking ahead, speeches by New York Fed W.Dudley (permanent voter, centrist), Philly Fed P.Harker (voter, hawkish) and Richmond Fed J.Lacker (2018 voter, hawkish) should keep the attention on the greenback ahead of key releases later in the week: ADP report, FOMC minutes and Non-farm Payrolls.

EUR/USD levels to watch

At the moment the pair is gaining 0.17% at 1.0673 and a break above 1.0681 (high Apr.3) would target 1.0711 (20-day sma) en route to 1.0772 (high Mar.30). On the other hand, the immediate support aligns at 1.0649 (low Mar.31) followed by 1.0625 (100-day sma) and finally 1.0597 (low Mar.14).