EUR/USD technical analysis: Bounce from 61.8% Fibo. targets immediate trend-line near 1.1180

• 61.8% Fibo. and latest trend-line resistance limits the moves.
• Greenback is on the back-foot ahead of the key employment data.

The EUR/USD pair trades near 1.1175 as the bounce from 61.8% Fibonacci retracement of near-term upside propels it towards immediate resistance-line.

If recent pullback in the US Dollar (USD) propels the quote beyond 1.1180, 1.1210 and 23.6% Fibonacci retracement near 1.1230 could quickly appear on the chart.

Though, pair’s upside past-1.1230 may have to confront 1.1240, 1.1250 and 1.1265 during the additional rise.

On the contrary, the break of 61.8% Fibonacci retracement level of 1.1170 may trigger fresh declines to 1.1145 horizontal-line comprising April 29 lows.

During the pair’s extended south-run beneath 1.1145, 1.1130 and 1.1110 could entertain sellers.

EUR/USD hourly chart

Trend: Sideways