EURUSD faces strong resistance at 50 –day SMA, market awaits US NFP
Major resistance – 1.11260 (50 –day MA) Major support – 1.10550 (daily Kijun-Sen) EUR/USD declined till 1.10596 yesterday and slightly recovered from that level. It is currently trading around 1.10977. The pair’s upside …
EUR/USD declined till 1.10596 yesterday and slightly recovered from that level. It is currently trading around 1.10977.
The pair’s upside capped by 50 –day SMA and any further bullishness above that level. Any violation above 50- day SMA will take the pair till 1.1177 (200 – day MA)/1.1200.
Market awaits U.S nonfarm payroll data which is to be released today for further directions. Any positive figure will have the minor reaction on USD as long as uncertainties in elections.
On the lower side,any break below 1.1055 will drag the pair down till 1.100/1.0965 (10-day MA).
It is good to buy above 1.11250 with SL around 1.1050 for the TP of 1.120/1.1250.
