EUR/USD recovers from 3-week lows

EUR/USD recovered from 3-week lows and erased intraday losses during the New York session despite a higher-than-expected ADP reading.

EUR/USD bottomed out at 1.1122, last seen Aug 10, as the greenback strengthened slightly following decent jobs data, but found support ahead of the 200-day SMA and managed to climb into the green. At time of writing, the pair is trading at 1.1148, a few pips above its opening price.

On the data front, ADP reported US private sector added 177,000 new jobs in August, slightly above the 175,000 expected by analysts. Next Friday, the nonfarm payrolls report is expected to show a 180,000 job gain in August.

EUR/USD levels to watch

In terms of technical levels, next supports are seen at 1.1116 (200-day SMA), 1.1045 (Aug 5 low) and 1.1000 (psychological level). On the flip side, resistances could be found at 1.1215 (100-day SMA), 1.1250 (10-day SMA) and 1.1340 (Aug 26 high).