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Forex: EUR/USD consolidating below 1.3100

FXstreet.com (Barcelona) - The shared currency is now trading almost unchanged against the greenback, hovering over the area of 1.3085/90 after reaching session highs above 1.3120.

Despite being USD-supportive, the impact of the FOMC minutes on the cross was lower than expected, as the FOMC meeting occurred before the last US NFP figures. It’s worth recalling the US economy added 88K jobs during March, much lower that the 200K previously estimated.

As of writing, the cross is flat at 1.0384 with the immediate hurdle at 1.3135 (high Mar.8) ahead of 1.3163 (high Feb.28) and then 1.3229 (50% of Feb-Apr slide).
On the downside, a dip beyond 1.3006 (low Apr.9) would then target 1.2963 (low Apr.8) en route to 1.2928 (MA10d).

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