EUR/USD Clings to 1.1400
After losing more than a hundred pips throughout the day, EUR/USD found support at the 10-day SMA and entered a quieter phase, as investors attention turns to the US nonfarm payrolls report due on Friday.
EUR/USD
extended its pullback from an 8-month peak of 1.1615 struck on Tuesday
and fell below 1.1400 to hit a 1-week low of 1.1385 in recent dealings.
At time of writing, EUR/USD is trading at 1.1400, recording a 0.73% loss
on the day.
EUR/USD levels to watch
In
terms of technical levels, immediate supports are seen at 1.1385 (10-day
SMA/May 5 low), 1.1355/46 (20-day SMA/Apr 29 low) and 1.1297 (Apr 29
low). On the other hand, resistances line up at 1.1529 (May 4 high),
1.1615/20 (May 2 & Aug 25 2015 highs), 1.1638 (100-week SMA) and
1.1712 (Aug 24 2015 high).
