FXStreet (Córdoba) – EUR/USD has continued to oscillate over the last hours, with the pair unable to consolidate above the 1.0900 level.
The pair fell to a daily low of 1.0803 immediately after the US nonfarm payrolls report was published, but the dollar failed to sustain gains and EUR/USD climbed more than a hundred pips to a peak of 1.0916 before losing upward momentum as well.
At time of writing, EUR/USD is trading at 1.0886, 0.16% below its opening price but still headed for a slight weekly gain on the back of the last two days’ rally, propelled by the risk-off mood amid Chinese turmoil.
EUR/USD levels to watch
As for technical levels, next resistances are seen at 1.0933-39 (Jan 7 & 8 highs), 1.0990 (Dec 28 & 29 highs) and 1.1038 (100-day SMA). On the other hand, immediate supports could be found at 1.0822 (50-day SMA), 1.0770 (Jan 7 low) and 1.0710 (Jan 5 low).
(Market News Provided by FXstreet)