OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD hovers near post-ECB highs

FXStreet (Córdoba) - EUR/USD continues to trade near 1-month highs, consolidating ECB-inspired gains as a strong US nonfarm payrolls report failed to trigger a US dollar recovery, leaving the pair oscillating in a 100-pip range.

EUR/USD gained more than 3% on Thursday and reached a peak of 1.0980, last seen early November, as Draghi made a few adjustments to the QE program but he did not live up to expectations.

EUR/USD has spent the last sessions within 1.0850 and 1.0950, barely reacting to the US employment data, that if anything, pushed the pair a bit higher. At time of writing, EUR/USD is trading at 1.0890, a few pips below its opening price but on track to post the first gain in three weeks

EUR/USD technical levels

In terms of technical levels, next resistances could be faced at 1.0980 (post-ECB, Dec 3 high), 1.1000 (psychological level) and then 1.1034 (200-day SMA). On the flip side, immediate supports are seen at 1.0854 (Dec 4 low), 1.0700/1.0698 (psychological level/21-day SMA) and not much until 1.0500 (psychological level/Dec 3 low).

NFP: Solid gains that supports continued economic growth - Wells Fargo

According to economists from Wells Fargo today’s numbers support the Fed’s move to raise rates for the first time since 2006 as it shows solid gains and diminishing slack.
Read more Previous

S&P affirms Ireland at A+; outlook stable

Rating agency Standard & Poor’s has affirmed Ireland at A+, with a stable outlook.
Read more Next
Start livechat