10 Jan 2014
EUR/USD reaches 1-week high
FXstreet.com (Córdoba) - The EUR/USD remains well bid near daily highs after rallying more than 100 pips in the wake of disappointing US nonfarm payrolls.
The EUR/USD recovered from levels sub-1.3600 and reached a high of 1.3686 before the 20-day SMA offered resistance. At time of writing, the pair is trading at the 1.3675 zone, recording a 0.5% gain on the day.
NFP figures
The US economy added just 74,000 new jobs in December, to mark the smallest increase since the start of 2011, while the unemployment rate fell to 6.7% from 7.0%, probably because more people dropped out of the labor force. Forecast called for a 196K gain.
EUR/USD levels to watch
As for technical levels, if the EUR/USD breaks above 1.3686 (Jan 10 high), next resistances are seen at 1.3700 (psychological level) and 1.3757 (Jan 2 high). On the flip side, supports are seen at 1.3570 (daily low) and 1.3548 (Jan 9 low) ahead of 1.3540 (100-day SMA).
The EUR/USD recovered from levels sub-1.3600 and reached a high of 1.3686 before the 20-day SMA offered resistance. At time of writing, the pair is trading at the 1.3675 zone, recording a 0.5% gain on the day.
NFP figures
The US economy added just 74,000 new jobs in December, to mark the smallest increase since the start of 2011, while the unemployment rate fell to 6.7% from 7.0%, probably because more people dropped out of the labor force. Forecast called for a 196K gain.
EUR/USD levels to watch
As for technical levels, if the EUR/USD breaks above 1.3686 (Jan 10 high), next resistances are seen at 1.3700 (psychological level) and 1.3757 (Jan 2 high). On the flip side, supports are seen at 1.3570 (daily low) and 1.3548 (Jan 9 low) ahead of 1.3540 (100-day SMA).