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6 Aug 2015
EUR/USD oscillates around 1.0900, eyes nonfarm payrolls
FXStreet (Córdoba) - EUR/USD is trading erratically on both sides of 1.0900, unable to set a short-term direction as investors’ attention now turns to Friday’s nonfarm payrolls report for clues on whether the Fed is ready to raise rates.
EUR/USD was rejected from a daily high of 1.0943 during the European session and fell all the way back toward 1.0873 before finding support. At time of writing, the pair is trading at 1.0915, up 0.10% on the day.
US reported initial jobless claims rose to 270K in the week ending Aug 1, having little effect on the dollar. The calendar remain light for the rest of the session while market awaits July government report due tomorrow.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find next resistances at 1.0943 (Aug 5 high), 1.0987 (Aug 4 low) and 1.1029 (100-day SMA). On the flip side, supports are seen at 1.0847 (Aug 5 low), 1.0808 (Jul 20 low) and 1.0784 (Apr 24 low).
EUR/USD was rejected from a daily high of 1.0943 during the European session and fell all the way back toward 1.0873 before finding support. At time of writing, the pair is trading at 1.0915, up 0.10% on the day.
US reported initial jobless claims rose to 270K in the week ending Aug 1, having little effect on the dollar. The calendar remain light for the rest of the session while market awaits July government report due tomorrow.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find next resistances at 1.0943 (Aug 5 high), 1.0987 (Aug 4 low) and 1.1029 (100-day SMA). On the flip side, supports are seen at 1.0847 (Aug 5 low), 1.0808 (Jul 20 low) and 1.0784 (Apr 24 low).