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4 Sep 2015
EUR/USD: Typical caution situation ahead of NFP
FXStreet (Mumbai) - The shared currency remains side-lined versus the US dollar in the mid-European session, keeping EUR/USD fixated near the mid-point of 1.11 barrier as any fresh moves are likely to be seen on the release of the key US non-farm payrolls data due ahead of US open.
EUR/USD unmoved since last hour
The EUR/USD pair trades 0.13% higher at 1.1138, struggling below 1.1150 levels. The main currency pair keeps calm during the European afternoon with most European traders adopting a wait and see mode ahead of the US jobs data which is expected to create quite a stir in the financial markets.
In absence of relevant macro data from the Euro zone, traders are closely eyeing the US non-farm payrolls. This figure is even more important this time around as it is likely to provide a hint to the Fed rate hike intentions at its Sept meeting, which may trigger fresh moves in the US dollar.
On Thursday, investors heavily sold the single currency amid a dovish European Central Bank (ECB) presser, where the central bank chief Draghi announced the central bank had cut the inflation and GDP outlooks for the near future.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1188 (Aug 14 High), above which gains could be extended to 1.1213 (Aug 12 High) levels. On the flip side, support is seen at 1.1086 (Sept 3 Low) below which it could extend losses to 1.1023 (Aug 12 Low) levels.
EUR/USD unmoved since last hour
The EUR/USD pair trades 0.13% higher at 1.1138, struggling below 1.1150 levels. The main currency pair keeps calm during the European afternoon with most European traders adopting a wait and see mode ahead of the US jobs data which is expected to create quite a stir in the financial markets.
In absence of relevant macro data from the Euro zone, traders are closely eyeing the US non-farm payrolls. This figure is even more important this time around as it is likely to provide a hint to the Fed rate hike intentions at its Sept meeting, which may trigger fresh moves in the US dollar.
On Thursday, investors heavily sold the single currency amid a dovish European Central Bank (ECB) presser, where the central bank chief Draghi announced the central bank had cut the inflation and GDP outlooks for the near future.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1188 (Aug 14 High), above which gains could be extended to 1.1213 (Aug 12 High) levels. On the flip side, support is seen at 1.1086 (Sept 3 Low) below which it could extend losses to 1.1023 (Aug 12 Low) levels.