In general pair remains flat, waiting for NFP, consolidating just under the 1.4900 level, 61.8% retracement of the last daily down leg, yet slightly bullish at this point. However, this employment report has the ability of ignore technical signals. Above 1.4930, pair should quickly approach to 1.4970 area, with next resistance level around 1.5010, if data is better than expected and stocks jump to the upside.
On contrary, a bad reading likely to send stocks lower and put risk aversion back in the table. Pair has supports at 1.4840 and 1.4800, and only under this last, downside could accelerate to 1.4750 area, ahead of 1.4710.
On contrary, a bad reading likely to send stocks lower and put risk aversion back in the table. Pair has supports at 1.4840 and 1.4800, and only under this last, downside could accelerate to 1.4750 area, ahead of 1.4710.
