Euro gained slightly in the Asian session. It reached an intraday high of 1.1540 as traders waited for the US employment data. What next should traders expect from the EURUSD pair?
5 October, OctaFX – The euro is trading close to the 1.1500 level against the US dollar, as price consolidates ahead of the US Nonfarm payrolls job report for the month of September.
The EURUSD pair had started to correct above the 1.1500 level, although the move higher was quickly sold as buyers lost momentum around the 1.1540 region. Sellers need to break the 1.1463 support level while buyers need to move price above the 1.1553 resistance level.
- The EURUSD pair remains bearish while trading below the 1.1500 level, key technical support is now found at the 1.1463 and 1.1405 levels.
- If the EURUSD buyers move price above the 1.1553 level, key resistance is then found at the 1.1600 and 1.1650 levels.
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