Saturday, October 3, 2015

EUR/USD retraces most of NFP-inspired gains

FXStreet (Córdoba) - EUR/USD has already retraced more than half of its post-nonfarm payrolls inspired gains but remains on track to post its first weekly high in three.

EUR/USD soared to a peak of 1.1318 following the release of a quite disappointing US job reports, which dampened expectations of a Fed rate hike this year. The dollar weakened across the board as the knee-jerk reaction, but managed to take back some losses over the last hours.

EUR/USD gave up more than 100 pips and retreated toward the 1.1210 area. At time of writing, the pair is trading at 1.1225, still up 0.29% on the day.

EUR/USD levels to watch

On the upside, immediate resistances could be found at 1.1318 (Oct 2 high), 1.1329 (Sep 21 high) and 1.1372 (Sep 14 high). On the downside, supports are seen at 1.1150 (Oct 2 low), 1.1139 (100-day SMA) and 1.1115 (Sep 25 low).
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