EUR/USD price analysis: NFP smashes expectations, euro drops near 1.1080 level

The Nonfarm Payrolls smashed market expectations with 266k vs. 180k forecast.
EUR/USD is down. Key support to break for bears is at the 1.1063 level.

Flavio Tosti Independent Analyst

EUR/USD daily chart

EUR/USD, on the daily chart, is trading in a downtrend below the 200-day simple moving average (DMA). The Nonfarm Payrolls smashed expectations with 266k vs. 180k expected by analysts.

EUR/USD four-hour chart.

EUR/USD is pulling back down and found some support near the 200 SMA on the four-hour chart. The picture remains quite mixed, with the spot remaining stuck in the 1.1063-1.1103 range. Bears would need a clear daily break below the 1.1063 level in order to reignite some more robust selling interest.

EUR/USD 30-minute chart

The euro is challenging the 200 SMA as it dropped to daily lows after the NFP. Resistance is seen at the 1.1103 and 1.1138 levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/USD

Overview
Today last price	1.1083
Today Daily Change	-0.0020
Today Daily Change %	-0.18
Today daily open	1.1103

Trends
Daily SMA20	1.1043
Daily SMA50	1.105
Daily SMA100	1.1069
Daily SMA200	1.116

Levels
Previous Daily High	1.111
Previous Daily Low	1.1074
Previous Weekly High	1.1034
Previous Weekly Low	1.0981
Previous Monthly High	1.1176
Previous Monthly Low	1.0981
Daily Fibonacci 38.2%	1.1096
Daily Fibonacci 61.8%	1.1088
Daily Pivot Point S1	1.1082
Daily Pivot Point S2	1.1061
Daily Pivot Point S3	1.1047
Daily Pivot Point R1	1.1117
Daily Pivot Point R2	1.1131
Daily Pivot Point R3	1.1152

Author

Flavio Tosti

Independent Analyst

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