EUR/USD Clinches Highs Near 1.1420

EUR/USD Clinches Highs Near 1.1420

6 May 2016, 09:14
Roberto Jacobs
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EUR/USD Clinches Highs Near 1.1420

The shared currency is seeing its buying interest accelerated early in Europe on Friday, pushing EUR/USD to daily highs near 1.1420.

EUR/USD all eyes on Payrolls

The pair is posting marginal gains after three consecutive pullbacks, managing to rebound from weekly lows near 1.1390 on Thursday after climbing as high as 1.1615 earlier in the week.

EUR found bids after the rally in the greenback seems to be taking a breather for the time being and European equities point to a negative start. Cautious sentiment, thin trade and en empty docket in the region will leave all the attention to US Non-farm Payrolls due later, expected at 202K for the month of April.

EUR/USD levels to watch

The pair is now up 0.12 at 1.1419 and a break above 1.1615 (2016 high May 3) would open the door to 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2). On the other hand, the immediate support lines up at 1.1386 (low May 5) followed by 1.1357 (20-day sma) and finally 1.1213 (low Apr.25).


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