Search ForexCrunch

EUR/USD continues feeling the heat of the stronger US dollar, which sees another bout of buys. This wave sends the world’s most popular pair to below the 1.1460 level and to a test of 1.1410.  The greenback continues its recovery path.

Will it continue falling to the next level of support? At least for now, the levels are clearer to comprehend in this sometimes tricky pair.

1.1460 was the post crash high in the Spring of 2015, a full 1000 pip jump from the low of 1.0460, which remains the multi-decade low. It later capped the pair and also provided support just before the recent fall. 1.15 and 1.1616 work as resistance.

1.1410 served as temporary resistance several times in recent weeks and provides support now again. Below this line, we have 1.1335 and 1.1150.

We have US jobless claims coming up as well as other figures, but there is one clear huge event coming.  The big event for markets this week is the US Non-Farm Payrolls report.

EURUSD weaker May 5 2016 on dollar strength