Saturday, October 3, 2015

EUR/USD firm around 1.1300

FXStreet (Edinburgh) - EUR/USD keeps the bid tone at the end of the week, currently hovering over the 1.1300 neighbourhood following US data.

EUR/USD turns positive for the week

The pair remains on its way to close the week on a positive note, snapping at the same time a 2-week negative streak. The offered tone around USD has been intensifying since the miserable prints from September’s US Payrolls, coming in at 142K vs. 203K anticipated, and allowing the strong rebound beyond the 1.1300 handle.

Adding to the poor NFP figures, August’s Factory Orders have contracted at a monthly pace of 1.7%, down from July’s 0.4% gain.

EUR/USD levels to watch

As of writing the pair is advancing 0.86% at 1.1291 and a breakout of 1.1330 (high Sep.21) would expose 1.1373 (high Sep.14) and finally 1.1441 (high Sep.17). On the flip side, the immediate support lines up at 1.1150 (low Oct.2) ahead of 1.1135 (low Oct.1) and then 1.1105 (low Sep.22).
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