EUR/USD
came under renewed pressure and broke to fresh lows over the last minutes, with
no clear catalyst for the move other than USD buying interest.
Fed Chair
Janet Yellen was testifying before the Congress but made no comments on monetary
policy and limited to say the US economy is performing well. However, a string
of above expectations US data (ADP, trade balance, ISM services) gave the
greenback additional tailwinds ahead of the nonfarm payrolls report on
Friday.
EUR/USD fell to its lowest level since early August at 1.0858 and
it was last trading 0.87% down at the 1.0865 zone.
EUR/USD
technical levels
In terms of technical levels for EUR/USD,
immediate supports could be found at 1.0847 (Aug monthly low) and1.0800
(psychological level) ahead of 1.0784 (Apr 24 low) . On the flip side,
resistances line up at 1.1071 (Oct 30 high), 1.1095 (Oct 28 high) and then
1.1105 (200-day SMA).
