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EUR/USD extends the rebound to 1.1170

FXStreet (Edinburgh) - The common currency keeps recovering ground vs. the dollar on Thursday, now pushing EUR/USD to the area of 1.1165/70.

EUR/USD a tad better on US data

The pair has trimmed further its earlier losses after US Initial Claims have ticked higher to 277K in the week ended on September 25th, missing forecasts at 270K and up from 267K recorded in the previous week.

In the meantime, market participants keep waiting for the more relevant ISM Manufacturing, expected at 50.6 for the last month, followed by the speech by the President of the Federal Reserve Bank of San Francisco, John Williams.

EUR/USD levels to watch

As of writing the pair is losing 0.14% at 1.1159 and a breakdown of 1.1116 (low Sep.25) would aim for 1.1105 (low Sep.22) and then 1.1057 (low Aug.12). On the other hand, the initial resistance aligns at 1.1260 (high Sep.30) ahead of 1.1281 (high Sep.29) and finally 1.1296 (high Sep.24).

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