EUR/USD muted near 1.1180 on US data

EUR/USD kept the composure following today’s results from the US docket, currently navigating the 1.1180 area.

EUR/USD clings to gains ahead of FOMC

The pair posted no reaction after today’s results from the US housing sector showed Housing Starts and Building Permits have missed expectations during last month, coming in at 1.142 million units (vs. 1.190 million expected) and 1.139 million units (vs. 1.170 million expected), respectively.

With no further scheduled releases in both Euroland and the US economy today, market participants will now shift their focus on tomorrow’s FOMC meeting.

Market consensus expects the Committee to leave the monetary status quo unchanged, while the probability of a Fed’s rate hike in December at just above 45%.

EUR/USD levels to watch

The pair is now gaining 0.03% at 1.1178 facing the next hurdle at 1.1213 (high Sep.20) followed by 1.1285 (resistance line off 2016 high) and finally 1.1329 (high Sep.8). On the other hand, a breakdown of 1.1145 (low Sep.16) would target 1.1121 (low Aug.31) en route to 1.1043 (low Aug.5).