EUR/USD Technical Analysis: Euro under pressure below 1.1530 key level ahead of NFP

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  • EUR/USD is under pressure as it closed Thursday below 1.1530 key level. 
  • EUR/USD is trading below its 50, 100 and 200-period simple moving averages while the RSI and Stochastics are below 50, all suggesting relative weakness in the currency pair. A bearish continuation would target 1.1400. On the flip side, a significant break above 1.1600 would likely invalidate the current bearish bias. 
  • Investors are awaiting the US Nonfarm Payrolls report for September at 12:30 GMT which can bring high volatility in the forex market. 

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: Euro under pressure below 1.1530 key level ahead of NFP

Spot rate:             1.1500
Relative change:  -0.07%  
High:                    1.1520
Low:                     1.1487

Main trend:         Bearish

Resistance 1:   1.1530 August 23 swing low
Resistance 2:   1.1569 Sept. 28 low
Resistance 3:   1.1600 figure
Resistance 4:   1.1630 August 8 high key level
Resistance 5:   1.1654 August 27 high

Support 1:   1.1500 figure and October 2, swing low 
Support 2:   1.1491 August 21 low 
Support 3:   1.1400 figure
Support 4:   1.1350 figure

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