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  • EUR/USD extends losses after being rejected from above 1.1600.  
  • DXY rises to test Friday’s highs despite US ISM data.  

The EUR/USD dropped further during the US session and reached at 1.1562, the lowest level since September 10. It was holding near the lows with a bearish tone but the decline under 1.1570 so far was limited.  

A stronger US dollar pushed the pair further to the downside. The DXY climbed to fresh daily highs and to test last week top above 95.30. The index was rising for the fourth consecutive day.  

Earlier today, EUR/USD rose to 1.1623 surrounded by some optimism about Brexit negotiation but gains were short-lived and the dollar resumed the upside. More recently, the release of the US ISM Manufacturing came in below expectations at 59.8 against the 60.3 of market estimates but the greenback remained strong despite the economic numbers.  

EUR/USD levels to watch

To the downside, the immediate support is seen at 1.1560/65, a break lower could expose September lows located at 1.1520/25, an important barrier. To the upside, resistance could be located at 1.1595 (20-hour moving average), 1.1620 and 1.1650 (Sep 28 high).