The selling pressure around the single currency is now picking up pace, dragging
EUR/USD
to test fresh daily lows.
EUR/USD weaker on US data
The pair has seen its downside intensified after US Non-farm Payrolls have surprised markets to the upside, showing the economy has created 271K jobs during October vs. September’s 137K (revised from 142K). In addition, the unemployment rate ticked lower to 5.0%.
Next on tap will be the Consumer Credit Change ($17.5 billion exp.) along with speeches by Fed’s Bullard and Brainard.
EUR/USD levels to watch
As of writing the pair is down 1.48% at 1.0715 facing the next support at 1.0600 (lpsychological level) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16). On the flip side, a breakout of 1.0988 (76.4% Fibo of 1.1496-1.0832) would open the door to 1.1034 (downtrend from 1.1496) and then 1.1099 (200-day sma).
EUR/USD weaker on US data
The pair has seen its downside intensified after US Non-farm Payrolls have surprised markets to the upside, showing the economy has created 271K jobs during October vs. September’s 137K (revised from 142K). In addition, the unemployment rate ticked lower to 5.0%.
Next on tap will be the Consumer Credit Change ($17.5 billion exp.) along with speeches by Fed’s Bullard and Brainard.
EUR/USD levels to watch
As of writing the pair is down 1.48% at 1.0715 facing the next support at 1.0600 (lpsychological level) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16). On the flip side, a breakout of 1.0988 (76.4% Fibo of 1.1496-1.0832) would open the door to 1.1034 (downtrend from 1.1496) and then 1.1099 (200-day sma).
