EUR/USD running out of steam near 1.1680

• The pair run out of steam just ahead of the 1.1700 handle.
• The greenback keeps the narrow range in the 94.60/50 band.
• US ISM Manufacturing came in below estimates at 58.1.

EUR/USD failed to surpass the 1.1700 handle on a convincing note earlier in the session and it has now returned to the 1.1680/75 band.

EUR/USD apathetic on US data

Spot remains on the defensive despite key US ISM manufacturing PMI disappointed expectations for the month of July, coming in at 58.1 vs. 59.4 forecasted and down from June’s 60.2.

Earlier in the session, the US ADP report came in on the strong footing, showing the private sector created almost 220K contracts during last month.

Looking ahead, the pair should stay under pressure in light of the FOMC meeting, where consensus sees the Federal Reserve refraining from acting on rates.

EUR/USD levels to watch

At the moment, the pair is down 0.15% at 1.1675 facing immediate support at 1.1625 (low Jul.27) followed by 1.1575 (low Jul.19) and then 1.1527 (low Jun.28). On the upside, a breakout of 1.1749 (high Jul.23) would open the door to 1.1792 (high Jul.9) and finally 1.1853 (high Jun.14).