- EUR/USD recovers from day’s low by 1.0931 but keeps below the 1.1000 handle as EUR bulls struggle to extend gains
- Upbeat PMI data from the eurozone yesterday was largely ignored by the markets, traders cautious ahead of the critical Non-farm Payrolls due on Friday
- At the time of writing EUR/USD is trading at 1.0973, with immediate resistance at 1.0996 (Daily High Aug 3)
- On the flip-side supports are seen at 1.0932 (Session Low Aug 4), followed by 1.0921 (Daily Low Jul 21) and then at 1.0894 (Daily Low Jul 30)
- Momentum remains on downside and a daily close below 1.0894 will lead to a further collapse
Resistance Levels:R1: 1.0996 (Daily High Aug 3)R2: 1.1012 (Hourly High Jul 31)R3: 1.1027 (Kijun-Sen)Support Levels:S1: 1.0932 (Session Low Aug 4)S2: 1.0921 (Daily Low Jul 21)S3: 1.0894 (Daily Low Jul 30)
The material has been provided by InstaForex Company – www.instaforex.com