EUR/USD treading water near 1.1200 ahead of NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The shared currency is extending its sideline pattern vs. the greenback today, with EUR/USD navigating a tight range around the 1.1200 handle.

    EUR/USD attention to Payrolls

    The pair is trading slightly in the negative territory at the end of the week, shedding part of the strong weekly gains to the mid-1.1200s against a backdrop of a better sentiment surrounding the beleaguered greenback.

    Spot will take centre stage later in the NA session in light of US Non-farm Payrolls, expected to come in around 200K for the month of January, down from December’s stellar print at 292K.

    EUR/USD levels to watch

    The pair is now retreating 0.03% at 1.1201 facing the next hurdle at 1.1240 (high Feb.4) ahead of 1.1496 (high Oct.15) and finally 1.1713 (post-PBoC high Aug.24). On the downside, a breach of 1.1055 (200-day sma) would open the door to 1.0960 (100-day sma) and finally 1.0922 (20-day sma).

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