FXstreet.com (Barcelona) - EUR/USD has shrugged off post NFP weakness and after hitting a fresh 3-weeks low at 1.4485, the pair has bounced above 1.4560 resistance to hit a fresh intra-day high at 1.4600 so far. Currently the pair is trading around 0.35% above today's opening price action at 1.4541 to the current 1.4590/1.4600.
valeria Bednarik, FXstreet.com collaborator, comments: “Worst than expected U.S. employment data send the pair to a fresh 3 weeks low of 1.4480, before retreating to pre data level. Indicators remain bearish in the hourly, with price now attempting to overcome 20 SMA, with a very slightly bearish slope. Above 1.4560, pair can regain some upside strength thus falling U.S. futures and gold are limiting such rise. Bigger time frames are also slightly bearish, so under today’s low, pair could approach to key 1.4440 area, next strong support to consider; break under that level could accelerate selling.”
