7 Jan 2016
EUR/USD remains firm near 1.0860
FXStreet (Edinburgh) - The European currency is now looking to consolidate in the area of daily highs vs. the dollar, with EUR/USD gyrating around 1.0870/60 so far.
EUR/USD firmer ahead of Payrolls
Spot is navigating 3-day highs after bottoming out in the 1.0700 neighbourhood on Tuesday, in response to a solid start of the year for the greenback. However, the Chinese-led sell-off in domestic and global equity markets has prompted a resurgence of the risk aversion, benefiting the common currency and lifting the pair to current levels.
Ahead in the week, US Non-farm Payrolls are due tomorrow, with consensus expecting the economy to have created 200K jobs during December.
EUR/USD relevant levels
At the moment the pair is advancing 0.60% at 1.0852 and a breakout of 1.0936 (76.4% Fibo of 1.0538-1.1059) would target 1.1045 (200-day sma) en route to 1.1146 (5-month downtrend). On the other hand, the immediate support lines up at 1.0700 (psychological level) followed by 1.0538 (low Dec.3) and finally 1.0456 (2015 low Mar.16).
EUR/USD firmer ahead of Payrolls
Spot is navigating 3-day highs after bottoming out in the 1.0700 neighbourhood on Tuesday, in response to a solid start of the year for the greenback. However, the Chinese-led sell-off in domestic and global equity markets has prompted a resurgence of the risk aversion, benefiting the common currency and lifting the pair to current levels.
Ahead in the week, US Non-farm Payrolls are due tomorrow, with consensus expecting the economy to have created 200K jobs during December.
EUR/USD relevant levels
At the moment the pair is advancing 0.60% at 1.0852 and a breakout of 1.0936 (76.4% Fibo of 1.0538-1.1059) would target 1.1045 (200-day sma) en route to 1.1146 (5-month downtrend). On the other hand, the immediate support lines up at 1.0700 (psychological level) followed by 1.0538 (low Dec.3) and finally 1.0456 (2015 low Mar.16).