EUR/USD bounces to 1.1160 on US data

The common currency is now attempting a tepid rebound vs. the buck, sending EUR/USD to test the 1.1160 area.

EUR/USD supported near 1.1130

The pair has barely reacted after US Initial Claims have come in practically in line with market consensus during last week, climbing to 266K vs. 265K expected and 267K previous, taking the 4-Week Average to 262.75K from 259.75K.

Further US data showed Export and Import Prices rising 0.2% and 0.1% on a monthly basis during July, respectively, surpassing prior estimates.

Spot gained some ground as the upside momentum in USD seems to have taken a breather, as the US Dollar Index has receded from session tops.

EUR/USD levels to watch

The pair is now losing 0.21% at 1.1155 and a break below 1.1083 (200-day sma) would target 1.1043 (low Aug.5) en route to 1.0950 (low Jul.25). On the flip side, the next up barrier is located at 1.1193 (high Aug.10) followed by 1.1236 (high Aug.2) and finally 1.1263 (50% Fibo of the May-June down move).