EUR/USD fails to extend gains after ADP data

EUR/USD continues to trade at 3-week highs just below the 1.11 mark amid broad USD weakness, although the euro failed to take advantage of below expectations ADP data.

ADP reported that US private-sector employment increased by 147,000 in October, below the 165,000 expected. However, September employment was upwardly revised to 202,000 from 154,000 initially estimated.

EUR/USD remained firm but was unable to extend gains as investors attention turns to Fed policy decision later on the day. At time of writing, the pair was trading at the 1.1090 area, recording a 0.33% gain on Wednesday.

EUR/USD levels to watch

In terms of technical levels, next resistances are seen at 1.1100 (psychological level),  1.1134 (100-day SMA) and 1.1177 (200-day SMA). On the flip side, supports could be found at 1.0959 (Nov 1 low), 1.0948 (10-day SMA) and 1.0873 (Oct 26 low).