8 Nov 2013
EUR/USD holds above 100-day SMA
FXstreet.com (Córdoba) - The EUR/USD fell to fresh daily lows after strong nonfarm payrolls figures boosted optimism over the US recovery and hence the greenback.
The EUR/USD dropped over 60 pips after the data and hit a low of 1.3350 although it managed to hold above the 100-day SMA that stands at 1.3344 Friday. The pair scored a 2-month low of 1.3295 yesterday after the ECB unexpectedly cut rates but managed to recover ground and entered in a consolidative stage that was interrupted by the NFP.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3365 zone, recording a 0.4% loss on the day, with immediate supports at 1.3344 (100-day SMA) and 1.3295 (Nov 7 low). On the upside, resistances are now seen at 1.3436 (daily high) and 1.3475 (100-hour SMA) ahead of 1.3500.
The EUR/USD dropped over 60 pips after the data and hit a low of 1.3350 although it managed to hold above the 100-day SMA that stands at 1.3344 Friday. The pair scored a 2-month low of 1.3295 yesterday after the ECB unexpectedly cut rates but managed to recover ground and entered in a consolidative stage that was interrupted by the NFP.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3365 zone, recording a 0.4% loss on the day, with immediate supports at 1.3344 (100-day SMA) and 1.3295 (Nov 7 low). On the upside, resistances are now seen at 1.3436 (daily high) and 1.3475 (100-hour SMA) ahead of 1.3500.