- 61.8% Fibo. and latest trend-line resistance limits the moves.
- Greenback is on the back-foot ahead of the key employment data.
The EUR/USD pair trades near 1.1175 as the bounce from 61.8% Fibonacci retracement of near-term upside propels it towards immediate resistance-line.
If recent pullback in the US Dollar (USD) propels the quote beyond 1.1180, 1.1210 and 23.6% Fibonacci retracement near 1.1230 could quickly appear on the chart.
Though, pair’s upside past-1.1230 may have to confront 1.1240, 1.1250 and 1.1265 during the additional rise.
On the contrary, the break of 61.8% Fibonacci retracement level of 1.1170 may trigger fresh declines to 1.1145 horizontal-line comprising April 29 lows.
During the pair’s extended south-run beneath 1.1145, 1.1130 and 1.1110 could entertain sellers.
EUR/USD hourly chart
Trend: Sideways