Home EUR/USD technical analysis: Fiber challenges 1.1320 resistance as NFP greatly disappoints
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EUR/USD technical analysis: Fiber challenges 1.1320 resistance as NFP greatly disappoints

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Published date:
  • The US Nonfarm Payrolls (NFP) in May disappointed big with only 75k jobs added vs. 185k forecast.
  • Average Hourly Earnings (YoY) also disappointed at 3.1% vs. 3.2% expected by analysts.
  • The data is  negative for the USD.  

EUR/USD daily chart

EUR/USD is trading in a bear trend below the 200 simple moving averages (SMAs).

EUR/USD 4-hour chart
 

Buyers are challenging 1.1320 resistance as the market trades above its main SMAs.


EUR/USD 30-minute chart

Fiber is trading above its main SMAs suggesting bullish momentum in the short term. A sustained breakout above 1.1320 should lead to 1.1400 handle. Immediate support is seen at 1.1300 and 1.1260.

Additional key levels

 

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