FxWirePro: EUR/USD hovers around 1.12 handle, US ADP data in focus

• Euro fell across the board with fresh selling wave witnessed after the EU CPI data revealed that the 19-nations bloc fell back into deflation
  
  
• Negative euro zone inflation reading raises expectations of further asset purchases by the European Central Bank
  
  
• Below estimates German data also continues to dampen the sentiment around the common currency
  
  
• EUR/USD is currently trading at 1.1208, close to the 1.12 handle, with strong resistance at cloud base by 1.1260
  
  
• Daily momentum is lower, drop till 1.1150 is likely if the the pair breaks below 200 DMA at 1.1176
  
  
• Markets now focus on US ADP data due later in the U.S. session for further direction in the pair

Resistance Levels:

R3: 1.1323 (Daily Cloud Top)

R2: 1.1282 (Daily High Sept 29)

R1: 1.1262 (Daily Cloud Base)

Support Levels: 

S1: 1.1194 (Daily Low Sept 29)

S2: 1.1176 (200 DMA)

S3: 1.1147 (100 DMA)