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EUR/USD challenges 2-week lows

FXStreet (Córdoba) - EUR/USD continues to pressure against daily lows at the 1.1135 zone, but buyers have managed to keep the euro contained.

EUR/USD broke below the 100-day SMA and fell to a 2-week low of 1.1136 as the dollar continues to benefit from the risk averse environment and investors look past economic indicators.

In US, the Richmond Fed manufacturing index came in at -5 in September versus +4 expected, while in the Eurozone consumer confidence sank to -7.10 against -6.9 of consensus.

At time of writing, EUR/USD is trading at 1.1143, posting its third consecutive loss in a row, after peaking at 1.1459 following Fed decision to stay on hold last week.

EUR/USD levels to watch


As for technical levels, if EUR/USD breaks below 1.1135, next supports are seen at 1.1125 (50-day SMA) and 1.1100 (psychological level), while on the flip side, resistances could be found at 1.1207/10 (Sep 22 high/200-day SMA) and 1.1255 (21-day SMA).

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