EUR/USD quickly regained the 1.1600 handle and above after bottoming out in the key support area in the 1.1570/60 band. EUR/USD up on PBoC news, looks to NFP Spot leapt above the 1.1600 mark, or fresh session tops, after the PBoC adjusted its reserve requirement on FX forwards trading to 20%, according to news agency Bloomberg. The Chinese central bank aims to keep the currency basically stable, while it will take counter-cyclical measures in order to bring in stability into the FX markets. The pair rapidly abandoned the area of fresh mutli-week lows near 1.1560 to regain the 1.1600 and beyond, clinching at the same time fresh daily highs. The up move, however, will be put to the test later in light of the publication of July’s Non-farm Payrolls and the ISM Non-manufacturing. EUR/USD levels to watch At the moment, the pair is gaining 0.15% at 1.1603 and a breakout of 1.1680 (21-day SMA) would aim for 1.1749 (high Jul.23) and finally 1.1792 (high Jul.9). On the flip side, the next support aligns at 1.1562 (low Aug.3) followed by 1.1527 (low Jun.28) and then 1.1508 (2018 low May 29). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: NFP likely to increase by 180k in July – Westpac FX Street 5 years EUR/USD quickly regained the 1.1600 handle and above after bottoming out in the key support area in the 1.1570/60 band. EUR/USD up on PBoC news, looks to NFP Spot leapt above the 1.1600 mark, or fresh session tops, after the PBoC adjusted its reserve requirement on FX forwards trading to 20%, according to news agency Bloomberg. The Chinese central bank aims to keep the currency basically stable, while it will take counter-cyclical measures in order to bring in stability into the FX markets. The pair rapidly abandoned the area of fresh mutli-week lows near 1.1560 to regain the 1.1600 and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
