EUR/USD uninspired by US factory orders

FXStreet (Córdoba) - The dollar weakened slightly but remained broadly unaltered following the release of US June factory orders data, which came in mainly in line with expectations, as FX market goes through a consolidation phase ahead of key jobs report on Friday.

Orders for goods produced in US factories rose 1.8% in June, matching consensus forecast and following a downwardly revised -1.1% fall the previous month. Excluding transportation, orders grew 0.5% from previous -0.1%.

EUR/USD rose a few pips toward the 1.0980 area, but it was unable to gather pace and remained confined to its daily range. At time of writing, the pair is trading at 1.0975, still 0.25% above its opening price.

EUR/USD technical levels

In terms of technical levels, EUR/USD could find next resistances at 1.0995/1.1000 (Aug 3 high/psychological level), 1.1027 (100-day SMA) and not much until the 1.1100/27 zone (psychological level/Jul 31 high). On the other hand, supports are seen at 1.0931 (Aug 4 low), 1.0920 (Jul 31 low) and 1.0900 (psychological level).

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