EUR/USD moves back and forth below 100-DMA

A renewed bout of buying interest waned in the EUR/USD pair last hour, with markets unimpressed by final services PMIs and retail sales data from the Euroland.

EUR/USD fails to resist above 100-DMA at 1.1180

Currently, EUR/USD trades +0.11% higher at 1.1166., moving further away from session tops reached at 1.1183 in the last hour. The main currency pair appears to have met fresh offers after the bulls were hit by mixed macro releases from the Eurozone, with the PMIs coming in weaker, while the retail sales and Sentix index bettering expectations.

The EUR/USD pair failed to resist above 100-DMA now located at 1.1180, despite persistent broad based US dollar weakness, in wake of worse-than expected US payrolls data. While holiday-thinned trading appears to cap the upside in the major.

Looking ahead, next of note for the major remains the German factory orders and industrial production data due tomorrow, while the ECB policy decision due on Thursday is likely to hog the limelight this week.

EUR/USD Technical Levels               

In terms of technicals, the pair finds the immediate resistance 1.1200 (round number). A break beyond the last, doors will open for a test of 1.1231 (20-DMA). On the flip side, the immediate support is placed at 1.1143 (50-DMA) below which 1.1100 (psychological levels) could be tested.