EUR/USD keeps the red around 1.1200, US ADP in focus

The EUR/USD pair finally breached the 1.1200 support last minutes, extending its correction further following the release of unimpressive Eurozone retail sales data.

EUR/USD shrugs off services PMIs

Currently, EUR/USD trades -0.21% lower at 1.1200, hovering within a striking distance of fresh session lows struck at 1.1197 some minutes ago. The main currency pair continues to remain weak in the European session, with the euro unable to find support from upbeat services PMI reports from Euro zone as well as from Germany.

While sluggish Euro zone retail sales data added to the negative sentiment around the common currency, keeping more downside in play. Moreover, stabilizing US dollar against most of its major peers can be also attributed to the directionless trading seen in the EUR/USD pair.

Looking ahead, now with the Eurozone data out of the way, focus shifts towards the crucial US ADP jobs report and ISM non-manufacturing PMI data due later in the NA session.

EUR/USD Technical Levels             

In terms of technicals, the pair finds the immediate resistance 1.1226 (100-DMA). A break beyond the last, doors will open for a test of 1.1250 (psychological levels). On the flip side, the immediate support is placed at 1.1188 (5-DMA) below which 1.1144 (50-DMA) could be tested.