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  • EUR/USD is trading near its daily highs just below 1.1730, the 23.6% Fibonacci retracement from the mid-April-May bear move, ahead of the US Non-Farm Payrolls and Avearge Hourly Earnings at 12:30 GMT.
  • A bull breakout above the level might lead to bear capitulation and a move towards 1.1854, the 38.2% Fibonacci retracement from the mid-April-May bear move.
  • On the other hand, a failure to break above 1.1730 can lead to a rotation down towards the 1.1600 figure.

EUR/USD 15-minute chart  

Spot rate:              1.1724
Relative change:   0.29%  
High:                     1.1727
Low:                      1.1680

Trend: Neutral

Resistance 1 1.1700-1.1720 figure and last week’s high
Resistance 2: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Resistance 3: 1.1800 figure
Resistance 4: 1.1854, 38.2% Fibonacci retracement from mid-April-May bear move

Support 1: 1.1672 June 27 high
Support 2: 1.1640 supply/demand level
Support 3: 1.1600 figure
Support 4: 1.1560 June 14 low
Support 5: 1.1527 last week’s low
Support 6: 1.1508 current 2018 low