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Jan 04 - 11:55 PM

EUR/USD - Pivots Around 1.0950 As Market Looks To US NFPs

By John Noonan  —  Jan 04 - 10:05 PM
  • EUR/USD opened +0.20% at 1.0944 after getting support from EUR/JPY buying

  • In a very quiet Asian session it traded in a 1.0944/56 range

  • It is trading around 1.0950 heading into the afternoon session

  • Resistance is @ 10-day MA @ 1.1007 and break would increase upward pressure

  • Support is at the 38.2 of the Oct-Dec rise at 1.0875

  • EUR/USD may be at initial stages of correcting oversold slow stoch readings

  • US non-farm payrolls later today will likely determine next move for EUR/USD

  • Market may be looking for a stronger outcome after the better ADP jobs data

  • Impact on US yields and risk assets will be key for EUR/USD direction

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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