The EUR/USD is in wait and see mode, pretty much unchanged on the day, waiting for US employment figures. Earlier on the day, Europe suffered another economic setback, with local manufacturing PMIs missing expectations, albeit the pair ignored the news. Right now, everything depends on US Payrolls: if the data is stronger than expected, investors will likely turn back to the greenback, and self EUR weakness may do the rest: a break below recent low of 1.3370 should lead to a quick extension towards the 1.3320/30 price zone, with a final target at 1.3295, past November monthly low.
On the other hand, data needs to come below 200K to be considered disappointing, and may trigger some upward corrections in the pair: above 1.3400, resistances stand at 1.3440 and 1.3475, former year low. If the rally is unable to extend beyond this last, the pair may resume the downside from there.
View Live Chart for EUR/USD
On the other hand, data needs to come below 200K to be considered disappointing, and may trigger some upward corrections in the pair: above 1.3400, resistances stand at 1.3440 and 1.3475, former year low. If the rally is unable to extend beyond this last, the pair may resume the downside from there.
View Live Chart for EUR/USD
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