EUR/USD unchanged below 1.2300, ADP eyed

• The pair keeps the daily gains in the 1.2280/1.2300 range.
• US-China trade tensions continue to dominate sentiment.
• EMU Core CPI missed expectations in March at 1.0% YoY.

The buying interest remains unchanged around the single currency on Wednesday, with EUR/USD rangebound around the 1.2300 neighbourhood.

EUR/USD focused now on US ADP

After two consecutive daily pullbacks, the pair is now trading in the positive territory amidst some offered bias surrounding the greenback.

Spot keeps the daily up move well and sound and paid little-to-none attention to preliminary inflation figures in the euro area, with headline consumer prices expected to rise 1.4% on a year to March and 1.0% when stripping food and energy costs.

In the meantime, US-China trade tensions continue to rule the sentiment around the global assets so far this week, keeping at the same time occasional bullish attempts in the greenback somewhat contained.

Data wise later in the session, the US ADP report is next on tap followed by March’s Factory Orders, Durable Goods Orders and the ISM Non-manufacturing.

In addition, St.Louis Fed J.Bullard (2019 voter, centrist) and Cleveland Fed L.Mester (voter, hawkish) are also due to speak.

EUR/USD levels to watch

At the moment, the pair is advancing 0.17% at 1.2292 and a break above 1.2330 (21-day sma) would target 1.2478 (high Mar.27) en route to 1.2537. On the other hand, immediate contention emerges at 1.2254 (low Apr.3) followed by 1.2241 (low Mar.21) and finally 1.2206 (low Feb.9).