EUR/USD remains capped by the 1.1150 zone

EUR/USD’s bounce from daily lows lost momentum at the 50-day SMA, putting the pair back on the defensive during the American session.

EUR/USD continues to trade in negative ground for the day after the upside was capped at the 1.1150 zone. The pair had recovered from a low of 1.1113 struck after BoE announced further easing measures. However, the pair lacks momentum either side of the board as investors attention now turns to the US nonfarm payrolls report due tomorrow.

Ahead of the key release, ADP data came in slightly above expectations (179K vs 170K) on Wednesday, while initial jobless claims rose to 369K in the week ended Jul 29, slightly above the 265K expected.

EUR/USD levels to watch

In terms of technical levels, next supports could be found at 1.1077/72 (200-day SMA/Jul 29 low) 1.1052 (Jul 28 low) and 1.1000 (psychological level). On the flip side, short-term resistances are seen at 1.1152 (50-day SMA), 1.1233 (100-day SMA) and 1.1300 (psychological level) ahead of the 1.1340/50 zone (Jul 21 & 22 highs).