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EUR/USD is trading in narrow range, market eyes US NFP data

  • RES 4:  1.0950 (Mar 27th high)

  • RES 3:   1.09149 (61.8% retracement of 1.10511 and 1.0711)

  •  RES 2: 1.08746

  •  RES 1: 1.0830 (Kijun-Sen)

    PRICE: 1.08129 @ 12:32 GMT 

  • SUP 1: 1.0783 (20 day 4HMA)

  • SUP 2: 1.0680 (61.8% retracement of 1.04613 and 1.10509)
  • SUP 3:1.0610 (Mar 19th low)

  • SUP 4: 1.0550 (Mar 17th low)

Commentary:

EUR/USD is trading well below 200 day 4HMA and this confirms intraday weakness decline till 1.0600 is possible.

US NFP data which is to be released on Friday will have major impact of USD/JPY further direction. Employment data is expected to add 247000 jobs compared to forecast of 295000.

On the upside minor resistance is around 1.08746 and break above would extend gains till 1.0915. Sell around 1.0850 stop around 1.0950 with target of 1.0600

 

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