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EUR/USD struggles around 1.0900

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD has continued to oscillate over the last hours, with the pair unable to consolidate above the 1.0900 level.

    The pair fell to a daily low of 1.0803 immediately after the US nonfarm payrolls report was published, but the dollar failed to sustain gains and EUR/USD climbed more than a hundred pips to a peak of 1.0916 before losing upward momentum as well.

    At time of writing, EUR/USD is trading at 1.0886, 0.16% below its opening price but still headed for a slight weekly gain on the back of the last two days’ rally, propelled by the risk-off mood amid Chinese turmoil.

    EUR/USD levels to watch

    As for technical levels, next resistances are seen at 1.0933-39 (Jan 7 & 8 highs), 1.0990 (Dec 28 & 29 highs) and 1.1038 (100-day SMA). On the other hand, immediate supports could be found at 1.0822 (50-day SMA), 1.0770 (Jan 7 low) and 1.0710 (Jan 5 low).
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