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6 Aug 2015
EUR/USD challenges highs near 1.0940
FXStreet (Edinburgh) - After bottoming out around 1.0870 on Thursday, EUR/USD has retaken the 1.0900 handle and is currently hovering over the 1.0935/40 region.
EUR/USD focus on US Payrolls
Choppy session for the pair so far, keeping the trade within 1.0870 and the early spike to the vicinity of 1.0940. Spot is looking to consolidate gains above 1.0900 the figure ahead of the critical Non-farm Payrolls due tomorrow, with market consensus expecting the US economy to have created 223K jobs during last month.
Caution amongst traders is set to grow bigger in the upcoming hours along with the usual lull pre-NFP. A print of +200K could accelerate expectations of a Fed’s lift-off in September, whereas it would take an awful surprise to the downside to push back expectations of a rate hike in December.
EUR/USD relevant levels
As of writing the pair is advancing 0.26% at 1.0934 with the immediate resistance at 1.0944 (high Aug.6) followed by 1.0990 (high Aug.4) ahead of 1.1080 (high Jul.29). On the other hand, a breakdown of 1.0873 (low Aug.6) would aim for 1.0848 (low Aug.5) and finally 1.0811 (low Jul.11).
EUR/USD focus on US Payrolls
Choppy session for the pair so far, keeping the trade within 1.0870 and the early spike to the vicinity of 1.0940. Spot is looking to consolidate gains above 1.0900 the figure ahead of the critical Non-farm Payrolls due tomorrow, with market consensus expecting the US economy to have created 223K jobs during last month.
Caution amongst traders is set to grow bigger in the upcoming hours along with the usual lull pre-NFP. A print of +200K could accelerate expectations of a Fed’s lift-off in September, whereas it would take an awful surprise to the downside to push back expectations of a rate hike in December.
EUR/USD relevant levels
As of writing the pair is advancing 0.26% at 1.0934 with the immediate resistance at 1.0944 (high Aug.6) followed by 1.0990 (high Aug.4) ahead of 1.1080 (high Jul.29). On the other hand, a breakdown of 1.0873 (low Aug.6) would aim for 1.0848 (low Aug.5) and finally 1.0811 (low Jul.11).