1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

EUR/USD remains firm near 1.0860

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Edinburgh) - The European currency is now looking to consolidate in the area of daily highs vs. the dollar, with EUR/USD gyrating around 1.0870/60 so far.

    EUR/USD firmer ahead of Payrolls

    Spot is navigating 3-day highs after bottoming out in the 1.0700 neighbourhood on Tuesday, in response to a solid start of the year for the greenback. However, the Chinese-led sell-off in domestic and global equity markets has prompted a resurgence of the risk aversion, benefiting the common currency and lifting the pair to current levels.

    Ahead in the week, US Non-farm Payrolls are due tomorrow, with consensus expecting the economy to have created 200K jobs during December.

    EUR/USD relevant levels

    At the moment the pair is advancing 0.60% at 1.0852 and a breakout of 1.0936 (76.4% Fibo of 1.0538-1.1059) would target 1.1045 (200-day sma) en route to 1.1146 (5-month downtrend). On the other hand, the immediate support lines up at 1.0700 (psychological level) followed by 1.0538 (low Dec.3) and finally 1.0456 (2015 low Mar.16).
    For more information, read our latest forex news.
     

Share This Page