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2 Oct 2015
EUR/USD breaks above 1.1300
FXStreet (Edinburgh) - The single currency is now intensifying its upside momentum vs. the dollar post-NFP, lifting EUR/USD beyond 1.1300 the figure.
EUR/USD stronger above 1.1300
The pair has abruptly broken above the consolidative pattern in the mid-1.1100s following the miserable print from US Payrolls, where the US economy has created 142K jobs during September, missing previous estimates at 203K and a tad better that August’s 136K (revised from 173K).
Adding to the grim string of data, Average Hourly Earnings came in flat on a monthly basis vs. forecasts for a 0.2% gain, while it has expanded 2.2% over the last twelve months.
Next on tap in the US calendar will be Factory Orders (0.3% exp. in August) and by the speech by Fed’s S.Fischer.
EUR/USD levels to watch
As of writing the pair is advancing 0.95% at 1.1301 and a breakout of 1.1330 (high Sep.21) would expose 1.1373 (high Sep.14) and finally 1.1441 (high Sep.17). On the flip side, the immediate support lines up at 1.1150 (low Oct.2) ahead of 1.1135 (low Oct.1) and then 1.1105 (low Sep.22).
EUR/USD stronger above 1.1300
The pair has abruptly broken above the consolidative pattern in the mid-1.1100s following the miserable print from US Payrolls, where the US economy has created 142K jobs during September, missing previous estimates at 203K and a tad better that August’s 136K (revised from 173K).
Adding to the grim string of data, Average Hourly Earnings came in flat on a monthly basis vs. forecasts for a 0.2% gain, while it has expanded 2.2% over the last twelve months.
Next on tap in the US calendar will be Factory Orders (0.3% exp. in August) and by the speech by Fed’s S.Fischer.
EUR/USD levels to watch
As of writing the pair is advancing 0.95% at 1.1301 and a breakout of 1.1330 (high Sep.21) would expose 1.1373 (high Sep.14) and finally 1.1441 (high Sep.17). On the flip side, the immediate support lines up at 1.1150 (low Oct.2) ahead of 1.1135 (low Oct.1) and then 1.1105 (low Sep.22).