FXStreet (Córdoba) – EUR/USD recovered from early losses and climbed back to the 1.1200 area during the American session, although it has been unable to consolidate above that level.
EUR/USD climbed to a session high of 1.1206 but lacked follow-through to completely erase losses incurred on the back of Fed Yellen hawkish rhetoric. Late on Thursday, Fed Chair said she expects a rate hike later this year, underpinning greenback’s gains.
Next week, the nonfarm payrolls will be the key event, with investors looking for evidence that supports Yellen’s expectations of continued falling unemployment and fading economic headwinds.
EUR/USD levels to consider
At time of writing, EUR/USD is trading at 1.1195, still down 0.30% on the day. In terms of technical levels, next resistances could be found at 1.1233 (Sep 25 high/21-day SMA), 1.1300 (psychological level) and 1.1329 (Sep 21 high). Meanwhile, supports are seen at 1.1145 (100-day SMA) and 1.1104 (Sep 23 low).
(Market News Provided by FXstreet)