JP Morgan on EUR/USD setup ahead of the US April jobs report on Friday.

"The euro building some decent support sub 1.17 here, not sure it means we rally out of sight without news but clearly some demand in front of the 200 day, whilst the view is one of pessimism towards European growth and people are short on the crosses on that narrative," JPM notes.

"All this make for an uninteresting setup in EURUSD itself for the time being as we battle the continuous back and forth and with payrolls upcoming don't think we go too far from here unfortunately, if you are bullish you know where the stop level is now," JPM adds.