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Forex pairs in this Article » EUR/USD (Edinburgh) -It’s been a quite choppy session for the shared currency on Wednesday so far, with the EUR/USD now returning to the 1.3250 area after climbing as high as 1.3300 the figure.

EUR/USD eyes on US employment data

The first risk event facing the pair today will be the ADP report in the US economy. Market consensus expects the US private sector to have created 182K jobs during July, a bit less that June’s 188K. The USD will be in centre stage throughout the rest of the session, as flash Q2 GDP figures are due ahead of the FOMC gathering. According to BBH Global Currency Strategy Team, “While the FOMC statement will likely inject volatility into the markets, regardless of its decision, a dollar decline is likely to be tempered by expectations of a dovish BOE and ECB tomorrow”.

EUR/USD key levels

The pair is now losing 0.05% at 1.3254 with the next support at 1.3234 (low Jul.30) ahead of 1.3208 (high Jul.11) and then 1.3200 (psychological level). On the other hand, a break above 1.3302 (high Jul.20/30) would aim for 1.3325 (low. Jun.18) and then 1.3417 (high Jun.19).
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