Back
8 May 2015
EUR/USD awaits Non-farm payrolls report
FXStreet (Mumbai) - The EUR/USD is taking a breather around 1.1215 levels after swinging back and forth throughout the European session as investors await the US non-farm payrolls data that would provide insight into the labor market strength in the US.
EUR/USD: Trades below hourly 100-MA
The pair currently trades below its hourly 100-MA located at 1.1225. The non-farm payrolls report for April is likely to show the US economy added 224K jobs. The labor market indicators released throughout he month have been disappointing – ADP report, Challenger job cuts. However, the weekly claims have dropped to 15-year lows.
Meanwhile, the investors will keep an eye on how the Greece issue unfolds. The Eurogroup meeting scheduled on Monday is unlikely to end in a breakthrough deal between Greece and its international creditors.
EUR/USD Technical Levels
The immediate resistance is located at 1.1224 (10-DMA), above which gains could be extended to 1.13. On the flip side, a break below 1.1181 (10-DMA) could push the pair down to 1.1077 (100-DMA).
EUR/USD: Trades below hourly 100-MA
The pair currently trades below its hourly 100-MA located at 1.1225. The non-farm payrolls report for April is likely to show the US economy added 224K jobs. The labor market indicators released throughout he month have been disappointing – ADP report, Challenger job cuts. However, the weekly claims have dropped to 15-year lows.
Meanwhile, the investors will keep an eye on how the Greece issue unfolds. The Eurogroup meeting scheduled on Monday is unlikely to end in a breakthrough deal between Greece and its international creditors.
EUR/USD Technical Levels
The immediate resistance is located at 1.1224 (10-DMA), above which gains could be extended to 1.13. On the flip side, a break below 1.1181 (10-DMA) could push the pair down to 1.1077 (100-DMA).