- EUR/USD is trading in narrow range of 1.1178 and 1.1275 and market waits US NFP data for further direction.
- The US economy is expected to add 225k jobs in May compared to 223K in April. Any drastic increase in number of jobs will drag the EUR/USD further down.
- Technically EUR/USD is facing major support around 1.1178 and any break below will drag the pair further down till 1.1100/1.1070.
- The pair’s short term resistance is around 1.1320 and break above could extend gains till 1.1390/1.1450.
It is good to sell below 1.11780 with stop around 1.1225 for the TP of 1.1100/1.107.
The material has been provided by InstaForex Company – www.instaforex.com