EUR/USD Oct. 23 – Surges After Weak US Non-Farm Payrolls

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EUR/USD showed some strength on Tuesday, gaining about one cent following a dismal Non-Farm Payrolls report. The euro is currently trading close to two-year highs against the dollar. The key employment indicator was nowhere near the estimate and slid to a six-month low. EUR/USD has settled down on Wednesday, and is trading in the mid-1.37 range in the European session. In economic news, Wednesday has a light schedule, with no major releases out of Europe or the US.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

EUR/USD Technical

  • In the Asian session, EUR/USD was steady, touching a high of 1.3793 late in the session and consolidating at 1.3773. The pair is steady in the European session.
  • Current range: 1.3710 to 1.3800.

Further levels in both directions:  EUR USD Daily Forecast_Oct. 23rd

  • Below: 1.3710, 1.3650, 1.3570, 1.3500, 1.3460, 1.3415, 1.3325, 1.3240, 1.3175 and 1.3100.
  • Above: 1.3800, 1.3870, 1.3940 and 1.4036.
  • 1.3710 has reverted to support. 1.3650 is next.
  • 1.3800 is the next line of resistance. 1.3870 is stronger. 

EUR/USD Fundamentals

  • Tentative – German 30-year Bond.
  • 12:30 US Import Prices. Exp. 0.3%.
  • 13:00 Belgian NBB Business Climate. Exp. -4.1 points.
  • 13:00 US HPI. Exp. 0.8%.
  • 14:00 Eurozone Consumer Confidence. Exp. -14 points.
  • 14:30 US Crude Oil Inventories. Exp. 2.7M.

* All times are GMT.

For more events and lines, see the Euro to dollar forecast.

EUR/USD Sentiment

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About Author

Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer.

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