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Session Recap: Dude, where's my rally? EUR/USD off lows

FXStreet (San Francisco) - Everything was ready for a pro-dollar trade in the American session after a set of upbeat economic data in the US. However, the story was different as the EUR/USD bounced from lows again and it posted losses versus the Canadian and Australian dollars.

"Having made strong gains across the board in recent sessions the dollar proved weary today and spent Thursday backing and filling but holding above important supports," Jamie Coleman from FXBeat commented.

The EUR/USD closed positive for first time in four sessions as the pair bounced at lows since September 2013 at 1.3240. Currently, EUR/USD is trading at 1.3281, up 0.17% on the day, having posted a daily high at 1.3289 and low at 1.3242.

The GBP/SUD fell for fourth day in a row as the Cable extended losses below 1.6600 and traded at minimums since early April at 1.6560. The USD/JPY posted further gains above 103.00 as the pair closed around 103.90, testing the upper side of its long term range.

Main headlines in the American session

">US initial jobless claims 298k vs 300k exp

US: Flash PMI Manufacturing jumps to 58 in August

US July existing home sales 5.15m vs 5.02m expected

United States CB Leading Indicator (MoM) came in at 0.9%, above expectations (0.6%) in July

Ukraine President Poroshenko says he’ll negotiate over peace in Minsk talks

US stocks closed up ahead Yellen speech

USD/JPY post highest close in 4 months

The USD/JPY bottomed during the American session at 103.59 but then bounced to the upside.
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EUR/USD poised to target 1.3210 - SocGen

Stephanie Aymes, Head of Technical Analysts, and Tanmay Purohit, Technical Analyst, at Societe Generale, remain bearish on the EUR/USD.
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