The pair EUR/USD bounces off its lows recorded following the NFP.
Indeed, the rebound in the Dollar, which has pushed EUR/USD toward new lows marginal eventually return, whereas many economists intervene to say that the wage growth of 0.5% is not sustainable and should be corrected downward in the next publication of the report of the employment.
EUR/USD has thus rebounded and now goes back above the 1.1720. This relieves some of the downward pressure immediate waiting for the weekly close tonight.
The bias remains, however, a downward trend in the short term, while EUR/USD is hovering above its lower inside a bevel zone.
Has the downside, a break of 1.1680 and a bevel in this area could allow an acceleration to the downside in the direction of 1.1620/1.1580, but it will also remain attentive to the threshold of 1.1660/50 before that.
Has the upside, we have immediate resistance to the 1.173 rice è with the moving average 100 hours, before the zone of 1.1750/60, where is, including the terminal high of the bezel and the moving average 200 hours.
Then we find the 1.1775, which has slowed down the last rebound. A break above would end the current sequence to the downside since the break below 1.1825 and could encourage an increase towards this threshold.
Earlier, a bullish reversal more sustained could then be made.
The range of 1.1680/1.1825 thus remains firmly in place and a break is needed to recover a sustained trend.
The pair EUR/USD is currently trading at 1.1728 on the Forex.
Chart EUR/USD H1
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This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.