EUR/USD revisits lows near 1.1190 on ADP

The common currency has quickly faded the earlier uptick above the 1.1200 handle vs. the greenback, now sending EUR/USD once again to test lows near 1.1190.

EUR/USD offered post-ADP

Spot met extra selling pressure after US ADP report has come in on the stronger side today, showing the US private sector added 179K jobs during last month, bettering expectations at 170K and a tad higher than June’s 176K (revised from 172K).

The pair keeps navigating the lower end of the recent range following a pick up in the demand for the buck, coming down from multi-week peaks around 1.1230 on Tuesday.

EUR/USD levels to watch

The pair is now losing 0.26% at 1.1195 and a breakdown of 1.1170 (55-day sma) would open the door to 1.1078 (200-day sma) and finally 1.0950 (low Jul.25). On the flip side, the initial hurdle is located at 1.1233 (high Aug.2) followed by 1.1238 (100-day sma) and then 1.1283 (base of the 8-month rising channel).