EUR/USD struggles to regain 1.1300

EUR/USD bounced from a 1-week low and managed to regain the 1.1300 level after briefly dipping below it during the European session.

EUR/USD bottomed out at 1.1281, posting its lowest level since last week’s nonfarm payrolls release, but managed to trim some of its intraday losses. At time of writing, the pair is trading at 1.1302, down 0.12% on the day.

EUR/USD has been retreating from the 1.1400 zone, where it peaked on Wednesday, as investors remain cautious ahead of the Fed meeting next week, while the ECB bond buying programme weighs on European yields and the shared currency.

EUR/USD levels to watch

As for technical levels, EUR/USD could find immediate supports at 1.1268 (10-day SMA),  1.1242 (20-day SMA) and 1.1209 (100-day SMA) . On the flip side, resistances line up at 1.1320 (May 10 high), 1.1415 (Jun 9 high) and 1.1445 (May 11 high).