EUR/USD Pushes Higher, Near 1.1430 ahead of NFP

EUR/USD Pushes Higher, Near 1.1430 ahead of NFP

6 May 2016, 12:46
Roberto Jacobs
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EUR/USD Pushes Higher, Near 1.1430 ahead of NFP

The single currency keeps its buoyant tone at the end of the week, lifting EUR/USD to session tops near 1.1430.

EUR/USD stronger ahead of Payrolls

The pair is rebounding from weekly lows in the 1.1390 area posted on Thursday following a profit taking sentiment in the greenback, and a swelling bias towards the risk aversion in the FX space.

Cautiousness is expected to gather traction with the hour in light of the upcoming Non-farm Payrolls in the US economy, expected slightly above 200K while the unemployment rate is seen steady at 5.0%.

EUR/USD levels to watch

The pair is now up 0.18 at 1.1425 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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