EUR/USD near highs, still unable to break 1.1170

The shared currency is holding on to its daily gains vs. the greenback on Tuesday, with EUR/USD gyrating around the 1.1170 area.

EUR/USD focus on US ISM

In spite of the current upside, spot remains within a tight range today with gains so far capped around 1.1170 against a backdrop of a broad-based selling sentiment around USD.

In addition, the pair’s downside appears well contained around the key 200-day sma near 1.1130, reinforced by the 50% retracement of the June-August up move at 1.1138.

On the data front, EMU’s GDP figures have matched expectations fore the second quartr, while ISM Non-manufacturing is seen ticking higher to 55.7 for the month of August.

EUR/USD levels to watch

The pair is now advancing 0.16% at 1.1166 and a break above 1.1199 (2014-2016 resistance line) would target 1.1223 (20-day sma) en route to 1.1259 (23.6% Fibo of June-August up move). On the other hand, the immediate support lines up at 1.1135 (200-day sma) ahead of 1.1121 (low Aug.31) and finally 1.1043 (low Aug.5).