EUR/USD back below 1.1300

EUR/USD is taking a breather after rallying more than 200 pips over the last sessions on the back of broad USD weakness triggered by disappointing economic data.

EUR/USD pulled back from a high of 1.1322 during the American session after Fed’s Dudley said they are getting closer to a rate hike and September is a possibility. However, the downside has been contained by the 1.1250 zone so far.

EUR/USD levels to watch

At time of writing, EUR/USD is trading at 1.1276, still up 0.85% on the day with next resistances seen at 1.1322 (Aug 16 high), 1.1337 (Jun 27 high) and 1.1382 (Jun 20 high). On the other hand, supports could be found at 1.1228 (100-day SMA), 1.1153 (Aug 15 low) and 1.1141 (50-day SMA).