EUR/USD upside faltered near 1.1400

The upside momentum around the shared currency stays unchanged today, although EUR/USD lost momentum near the critical 1.1400 handle.

EUR/USD bid after ADP miss

Spot gained extra steam after US ADP report showed the private sector added less jobs than expected in June 158K vs. 185K forecasted and down from May’s 230K (revised lower).

Further US results saw initial claims rising 248K WoW and taking the 4-week average to 243.00K vs. 242.25K previous. The US trade deficit shrunk to $46.5 billion in May from April’s $47.60 billion, albeit it missed initial estimates.

Later in the NA session, ISM non-manufacturing will take centre stage seconded by the speech by FOMC’s J.Powell (permanent voter, centrist).

EUR/USD levels to watch

At the moment, the pair is up 0.30% at 1.1385 and a breakout of 1.1448 (2017 high Jun.30) would open the door to 1.1466 (high Apr.12 2016) and 1.1466 (high Apr.16 2016). On the downside, the immediate support aligns at 1.1313 (low Jul.5) followed by 1.1290 (low Jun.28) and finally 1.1255 (21-day sma).