EUR/USD approaches daily highs
FXStreet (Córdoba) – EUR/USD has moved closer to the upper-side of its daily range but overall continues to trade very quietly given the US Labour Day holiday.
EUR/USD recovered some ground and has continued to move away from last week’s lows but lacked strength to rise beyond the 1.1180 zone. At time of writing, the pair is trading at 1.1169, little changed on the day.
Last Friday, the nonfarm payrolls showed the US economy added 173,000 new jobs in August versus 220,000 expected leaving investors wondering whether jobs market recovery would be strong enough for the Fed to hike rates next week.
EUR/USD technical levels
On the upside, immediate resistances could be found at 1.1189 (Sep 4 high), 1.1243 (Sep 4 high) and 1.1272 (200-day SMA). On the other hand, supports are seen at 1.1120/16 (Sep 4 low/100-day SMA), 1.1086 (Sep 3 low) and 1.1058 (Aug 17 low).
EUR/USD has moved closer to the upper-side of its daily range but overall continues to trade very quietly given the US Labour Day holiday.
(Market News Provided by FXstreet)