FxWirePro: EUR/USD gains some upside momentum but still bearish
The EUR/USD inched higher at the beginning of the US session on Friday after a weaker-than-expected September jobs report appeared to reduce the chance of a U.S. interest rate hike this year. U.S. employment growth unexp…
The EUR/USD inched higher at the beginning of the US session on Friday after a weaker-than-expected September jobs report appeared to reduce the chance of a U.S. interest rate hike this year.
U.S. employment growth unexpectedly slowed for the third straight month in September. Nonfarm payrolls rose 156,000, down from a gain of 167,000 jobs in August, the Labor Department said on Friday.
However, further upside for this pair should be limited as the resistance level at 1.1324 levels should limit more upside and bring decline back to lower levels.
To the upside, the strong resistance can be seen at 1.1236, a break above this level would take the pair towards next resistance level at 1.1256.
To the downside, immediate support can be seen at 1.1155 levels, a break below this level will open the door towards next level at 1.1137.
