The EUR/USD pair has suffered downward pressure following the publication of the report of the employment US, but we still don’t have acceleration in the range.
In fact, following a report by the NFP, which has posted a solid rebound in wage growth and a fall in the unemployment rate, despite job losses, EUR/USD fell to a new low marginal at 1.1669, before going up to the area pre-NFP.
The rebound in the Dollar on the Forex, therefore, has not lasted, but EUR/USD remains fragile, close to the lower bound of the range of consolidation in the short term.
The range of 1.1680/1.1825 is therefore in danger of a fracture from the bottom to the very short term, but it must be observed and confirmed before playing a continuation of bearish correction.
Note that the threshold is reinforced by a line of the down trend that goes through the hollow in place since the break below 1.1825 and the strengthening of the bearish view.
Below the fall could, therefore, be strengthened and go and get the box of 1.1620/1.1580, with a medium to 1.1660/50 before that.
Has the upside, first resistance comes in at 1.1720, of which a break would raise the increase in the direction of 1.1775.
Above, we could then go back to 1.1825, the top of the range of consolidation.
The range of 1.1680/1.1825 remains, therefore, always to watch, while the bearish view was reinforced following the report, NFP.
The pair EUR/USD is currently trading at 1.1693 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.