EUR/USD makes fresh highs above 1.1250

EUR/USD extended its ISM non-manufacturing PMI inspired gains to above 1.1250 in recent dealings, leaving the 100-day SMA behind.

EUR/USD rose nearly a hundred pips from pre-data levels and climbed to a high of 1.1255, last seen Aug 16, before losing some steam. The pair was last trading at the 1.1230 zone, recording a 0.76% gain since opening.

Recent string of disappointing US data has continued to push away expectations of another rate hike by the Fed despite hawkish remarks from its members.

EUR/USD levels to watch

In terms of technical levels, immediate resistances could be found at 1.1300 (psychological level), 1.1340 (Aug 26 high) and 1.1365 (Aug 18 high). On the other hand, next supports are seen at 1.1138 (50-day SMA), 1.1127 (200-day SMA) and 1.1045 (Aug 5 low).