EUR/USD comfortable below 1.1200

EUR/USD remains under pressure during the New York session as the dollar strengthened amid expectations that the Federal Reserve will raise interest rates this year boosted the dollar.

EUR/USD extended losses on Monday, after falling sharply during Friday’s afternoon on the back of Fed’s Yellen speech. The pair bottomed out at 1.1157, scoring a 2-week low in recent dealings. At time of writing, the pair is trading at 1.1169, down 0.23% on the day.

Last Friday, Federal Reserve Chair Janet Yellen said the case for another interest rate hike has strengthened in recent months, boosting the dollar. Now investors will be watching at US data, and specially nonfarm payrolls report at the end of the week to assess the state of the economy.

EUR/USD levels to watch

In terms of technical levels, next supports are seen at 1.1140 (50-day SMA), 1.1111 (200-day SMA) and 1.1045 (Aug 5 low). On the flip side, resistances could be found at 1.1218 (100-day SMA), 1.1277 (10-day SMA) and 1.1340 (Aug 26 high).