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EUR/USD visits highs around 1.0930, ADP eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The euro is alternating gains with losses vs. the dollar following the risk appetite mood, although it has so far managed to keep EUR/USD above the 1.09 handle.

    EUR/USD attention to ADP report

    Choppy session for the single currency is leaving the pair to trade within a 1.0900-1.0930 range for the time being, while market participants are getting ready for the ADP report in the US economy. In fact, consensus expects the US private sector to have created nearly 200K jobs during January vs. 257K added in the previous month.

    Previously, Services PMIs in the euro area have come in mixed while Retail Sales in the region met expectations gaining 0.3% MoM in December.

    EUR/USD levels to watch

    The pair is now advancing 0.17% at 1.0933 facing the next resistance at 1.0969 (high Jan.28) followed by 1.1000 (psychological level) and then 1.1053 (200-day sma). On the other hand, a break below 1.0777 (post-ECB low Jan.21) would open the door to 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709 (low Jan.5).
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