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EUR/USD muted post-US data, near 1.0730

FXStreet (Edinburgh) - The common currency has paid little attention to the US releases today, leaving EUR/USD practically unchanged in the 1.0730 area.

EUR/USD supported at 1.07, Fedspeak eyed

The pair is struggling to gather traction today in spite of bouncing off earlier lows around 1.0700 the figure in response to dovish comments by ECB’s M.Draghi. Furthermore, spot kept the composure after US Initial Claims have missed expectations in the week ended on November 6, coming in at 276K vs. 270K anticipated.

Ahead in the session, the greenback will take centre stage in light of the slew of Fed speakers: Yellen, Bullard, Evans, Dudley and Fischer.

EUR/USD levels to watch

As of writing the pair is losing 0.08% at 1.0733 facing the next support at 1.0658 (low Apr.21) followed by 1.0600 (psychological level) and finally 1.0519 (low Apr.13). On the other hand, a breakout of 1.0909 (downtrend from 1.1496) would target 1.0988 (76.4% Fibo of 1.1496-1.0706) en route to 1.1086 (200-day sma).

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USD/CHF made another attempt to break above the 1.0085/90 area during the European session, but was rejected once again and pulled back to the flat line, with the latest round of US data having virtually no effect on the greenback.
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