EUR/USD back to square one

EUR/USD recovered from session lows and erased early losses during the American session and is back at the starting point of the day as markets struggle for direction in the absence of catalysts and drivers for the price action.

EUR/USD found support at the 100-day SMA around 1.1209 and took back losses, climbing to the 1.230/40 zone. At time of writing, the pair is trading at 1.1238, virtually unchanged on the day.

FOMC Member Brainard speech expected at 17:15 GMT could give the dollar some inspiration as investors continue to assess the likelihood of a September or December rate hike. 

EUR/USD levels to watch

In terms of technical levels, immediate resistances are seen at 1.1284 (Sep 9 high), 1.1326 (Sep 8 high), 1.1340 (Aug 26 high) and 1.1365 (Aug 18 high). On the opposite direction, supports line up at 1.1209 (100-day SMA), 1.1139 (200-day SMA) and 1.1100 (psychological level).