EUR/USD keeps session highs near 1.1790 post-ADP

The single currency keeps the firm note on Wednesday, taking EUR/USD to the upper end of the daily range near 1.1790.

EUR/USD bid on data

The pair’s up move stays unchanged despite the US ADP report showed the private sector added 135K jobs during September, surpassing prior surveys although lower than August’s 228K (revised from 237K).

The softer tone in the greenback echoes the poor performance of yields in the US money markets, where the key 10-year reference dropped to session lows in the 2.30% neighbourhood, down around 7 bps since Monday’s peaks above 2.37%.

Ahead in the session, the ISM non-manufacturing is now next on tap, followed by the EIA’s weekly report on US crude oil inventories and the speech by St. Louis Fed J.Bullard (2019 voter, dovish).

EUR/USD levels to watch

At the moment, the pair is up 0.26% at 1.1775 facing the next up barrier at 1.1813 (10-day sma) followed by 1.1831 (55-day sma) and finally 1.1886 (21-day sma). On the flip side, a break below 1.1696 (low Oct.3) would target 1.1662 (low Aug.17) en route to 1.1584 (100-day sma).