EUR/USD turns positive around 1.1140, Payrolls eyed

The shared currency is now posting meagre gains vs. the greenback, lifting EUR/USD to the 1.1140/45 band.

EUR/USD unchanged ahead of US data

The pair is advancing for the first time after two consecutive pullbacks from the 1.1230 area following a now softer tone surrounding the US dollar, although it remains on its way to close the week in red figures after last week’s significant advance.

Ahead in the day, US Non-farm Payrolls are expected at 170K for the month of July, down from June’s stellar print at 287K. Previously in the euro area, German Factory Orders have contracted at a monthly 0.4% during June, reverting May’s 0.1% gain.

EUR/USD levels to watch

The pair is now advancing 0.10% at 1.1141 facing the initial resistance at 1.1236 (high Aug.2) ahead of 1.1263 (50% Fibo of the May-June down move) and then 1.1291 (base of the 8-month rising channel). On the other hand, a breach of 1.1080 (200-day sma) would target 1.0950 (low Jul.25) en route to 1.0913 (post-Brexit low Jun.24).