FXStreet (Mumbai) - The EUR/USD pair is once again heading towards its 200-DMA located at 1.1166 levels after the bulls failed to take out 1.12 levels in the Thursday’s NY session and today’s Asian session.
Focus on European stocks ahead of US NFP
The common currency is likely to take cues from the sentiment in the European stock markets ahead of the payrolls release. The major European equities erased early gains on Thursday to end the day with losses. At the moment, the major equity futures in Europe are pointing to a weak opening.
Ahead in the day, the US non-farm payrolls report is widely expected to show the economy added 203K jobs in December. The number could affect the December rate hike bets, which currently stand at 36.2%.
EUR/USD Technical Levels
At 1.1175, the spot is within a touching distance from its 50-DMA and 200-DMa located at 1.1172 and 1.1166 level. A break below the same could expose 1.11 handle. On the other side, resistance is seen at 1.1209 (previous day’s high) and 1.1236 (38.2% of Mar-Aug rally).
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