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EUR/USD trades around 200-DMA amid drop in European stocks

FXStreet (Mumbai) - The EUR/USD pair is trading around its 200-DMA located at 1.1186 amid moderate weakness seen in the European stocks.

Back above hourly 100-MA

The spot moved back above its hourly 100-MA located at 1.1175. So far the markets have not reacted negatively to a separatist party victory in regional elections in Spain. Meanwhile, the European stocks are trading with moderate losses. The pan-European Euro Stoxx 600 index declined 0.50% on the day.

The traders are likely to track the movement in the equity markets heading into the US personal spending report release. Fed officials’ speech due later today could influence the pair.

EUR/USD Technicals levels

At 1.1170, the immediate support is seen at 1.1145 (100-DMA), under which the pair could drop to 1.11 levels. On the other side, resistance is seen at 1.1214 (daily high) and 1.13 levels.

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