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3 Apr 2015
EUR/USD: key levels to watch heading into US NFP – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares that 1.0900 and 1.0800 are the key levels to keep an eye on heading into the US NFP results, with the pair currently trapped in a 20pip range.
Key Quotes
“Expectations according to forecast are of 244K new jobs added, and the unemployment rate to remain steady at 5.5%. The average of the last 12 months stands at 266K a month, so anything above this level should be a positive surprise, as long as the unemployment rate remains intact.”
“Market talks are now pointing for something around 220K, so anything below it will be seen as bad news for the greenback.”
“The levels to watch for today, are 1.0900 as the immediate resistance, with a break above it on a dollar sell-off pointing to a quick test of the 1.0950/60 area, while beyond this last, the rally can extend up to the 1.1000 figure.”
“The critical support on the other hand, is the 1.0800 price zone, with a break below it targeting 1.0760 first, and 1.0710 later, should the dollar maintain the lead.”
Key Quotes
“Expectations according to forecast are of 244K new jobs added, and the unemployment rate to remain steady at 5.5%. The average of the last 12 months stands at 266K a month, so anything above this level should be a positive surprise, as long as the unemployment rate remains intact.”
“Market talks are now pointing for something around 220K, so anything below it will be seen as bad news for the greenback.”
“The levels to watch for today, are 1.0900 as the immediate resistance, with a break above it on a dollar sell-off pointing to a quick test of the 1.0950/60 area, while beyond this last, the rally can extend up to the 1.1000 figure.”
“The critical support on the other hand, is the 1.0800 price zone, with a break below it targeting 1.0760 first, and 1.0710 later, should the dollar maintain the lead.”