EUR/USD hits session low at 1.1180, focus on ECB minutes

Having posted a session high at 1.1213, the EUR/USD pair turned lower and is now extending its slide further below 1.1200 handle amid broadly stronger greenback.

Currently hovering around 100-day SMA near 1.1180-85 region, the pair shrugged-off upbeat German factory orders data and extended its slide reversal from Wednesday's peak led by surprisingly stronger US ISM services PMI. 

Meanwhile, comments from ECB governing council member Liikanen, supporting the current low interest rates regime and use of unconventional monetary policy measures, provided little motivation to the bulls. 

Next in focus would be the ECB's latest monetary policy meeting accounts, which might provide some impetus, while the broader trend would be dependent on Friday's key monthly jobs report from the US. 

Technical levels to watch

Below 100-day SMA, the pair is likely to find support at 200-day SMA near 1.1165 region below which the pair is likely to head back towards retesting an important horizontal support near 1.1125-20 area.

On the flip side, recovery attempts above 1.1200 handle now seems to confront resistance near 1.1225 level. Any further up-move above 1.1225 resistance might continue to witness strong supply near 1.1250-55 region and only a decisive momentum above 1.1250 would open further near-term appreciating move for the pair.