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EUR/USD wobbles around 1.12, NFP eyed

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 single currency is posting marginal losses vs. the greenback on Friday, taking EUR/USD to the 1.1190/95 band so far.

    EUR/USD attention to Payrolls

    The pair continues to consolidate the recent abrupt climb to fresh 4-month highs beyond the 1.1200 handle, although the upside momentum seems to have run out of steam for the time being.

    On the data front, German Factory Orders are next on tap in Euroland, followed by the more relevant Non-farm Payrolls across the pond. Market consensus expects the US economy to have created 190K jobs during January vs. December’s 292K.

    EUR/USD levels to watch

    The pair is now retreating 0.07% at 1.1198 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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