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EUR/USD bounces off 1.1170, NFP eyed

FXStreet (Edinburgh) - The single currency is now losing some momentum vs. its American peer on Friday, pushing EUR/USD to test daily lows in the 1.1170/65 band.

EUR/USD within range, eyes on Payrolls

The pair is trading in the lower bound of the weekly range near 1.1170, coming down from overnight tops in the vicinity of 1.1200 the figure in response to lackluster results from the US docket, where the key ISM Manufacturing has missed expectations during September.

Next of relevance in the pair will be the critical Non-farm Payrolls, with consensus expecting the US economy to have added just above 200K jobs during last month. Further scheduled releases include the unemployment rate and Factory Orders, all ahead the speech by Fed’s Vice Chairman S.Fischer.

EUR/USD levels to watch

As of writing the pair is losing 0.17% at 1.1175 and a breakdown of 1.1116 (low Sep.25) would aim for 1.1105 (low Sep.22) and then 1.1057 (low Aug.12). On the other hand, the initial resistance aligns at 1.1260 (high Sep.30) ahead of 1.1281 (high Sep.29) and finally 1.1296 (high Sep.24).

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