Setback EUR/USD settles above 1.3700

FXstreet.com (Córdoba)-after a quick decline in 4 days minimum fresh, the EUR/USD has found support and even managed to recover some ground in the session item.

Amid broad strength USD, EUR/USD came under pressure and broke below 1.3740 zone, which extends to a low level before bouncing slightly 1.3708. With only November us PPI due for release today, the FX market could enjoy a session of consolidation as investors prepare for next week's Fed decision.

The latest batch of data from the United States, including strong NFP, came above expectations, reviving speculation that the Fed could begin to reduce its bond purchases this month or early next year.

EUR/USD levels to watch

At the time of writing, the EUR/USD is trading at 1.3725 area still 0.2%, below the opening price, with immediate support by aligning to 1.3700 (psychological level) and 1.3685 (SMA 10 days). The flip side, the heating elements are seen at 1.3735 (intraday low resistance/Dec 12) and 1.3770 (daily), followed by 1.3811 (Dec 11) and 1.3832 (October 31).

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