EUR/USD reacts to the upside and trades above 1.2940

FXStreet (San Francisco) - After declining 65 pips overnight from 1.2970 to trade at daily lows of 1.2905, the EUR/USD was trading sideways at this levels in the last few hours; However, pair reacted to the upside following weaker than expected Industrial production and now it is pricing at 1.2940.

Industrial production fell 0.1% in August while July data was revised down to an increase of 0.2% from a previously reported of 0.4%.

Currently, EUR/USD is trading at 1.2943, down 0.15% on the day, having posted a daily high at 1.2974 and low at 1.2909. The FXStreet OB/OS Index is reflecting oversold hourly conditions, while the FXStreet Trend Index is slightly bearish.

EUR/USD levels

If the pair continues recovering, it will face next resistances at 1.2970, 1.2980 and 1.3000. On the downside, supports are at 1.2905, 1.2880 and 1.2860.