EUR/USD Subdued Around 1.1140 ahead of Payrolls

EUR/USD Subdued Around 1.1140 ahead of Payrolls

3 June 2016, 14:09
Roberto Jacobs
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EUR/USD Subdued Around 1.1140 ahead of Payrolls

The demand for the shared currency remains depressed at the end of the week, with EUR/USD hovering over the 1.1140 area.

EUR/USD attention to US data

Spot is grinding lower during the European afternoon, extending the correction from recent highs in the 1.1220 region in response to the cautious stance from the ECB at its meeting on Thursday.

Next on tap for the pair will be the critical Non-farm Payrolls in the US economy, with consensus gyrating around the 160K jobs during May. Further releases across the pond will see Factory Orders and the ISM Non-manufacturing.

EUR/USD levels to watch

The pair is now retreating 0.09% at 1.1143 and a break below 1.1096 (low May 30) would open the door to 1.1055 (low Mar.16) and then 1.0820 (low Mar.10). On the other hand, the initial hurdle aligns at 1.1237 (20-day sma) followed by 1.1246 (high May 23) and finally 1.1298 (55-day sma).


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