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FxWirePro: EUR/USD gains capped by 1.0980, momentum remains on downside

  • EUR/USD recovers from day's low by 1.0931 but keeps below the 1.1000 handle as EUR bulls struggle to extend gains 

  • Upbeat PMI data from the eurozone yesterday was largely ignored by the markets, traders cautious ahead of the critical Non-farm Payrolls due on Friday

  • At the time of writing EUR/USD is trading at 1.0973, with immediate resistance at 1.0996 (Daily High Aug 3)

  • On the flip-side supports are seen at 1.0932 (Session Low Aug 4), followed by 1.0921 (Daily Low Jul 21) and then at 1.0894 (Daily Low Jul 30)

  • Momentum remains on downside and a daily close below 1.0894 will lead to a further collapse

Resistance Levels:

R1: 1.0996 (Daily High Aug 3)

R2: 1.1012 (Hourly High Jul 31)

R3: 1.1027 (Kijun-Sen)

Support Levels:

S1: 1.0932 (Session Low Aug 4)

S2: 1.0921 (Daily Low Jul 21)

S3: 1.0894 (Daily Low Jul 30)

  • Market Data
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