Eurusd down

EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.



The Relative Strength Index (RSI) indicator on the 4-hour chart stays above 50 and EUR/USD holds comfortably above the 100, 50 and 20-period Simple Moving Averages (SMA), suggesting that the bullish bias stays intact.

Immediate resistance is located at 1.0750 - 1.0755 (Fibonacci 38.2% retracement of the latest downtrend, 200-period SMA). If EUR/USD stabilizes above that region, 1.0790 - 1.0800 (Fibonacci 50% retracement, static level) and 1.0830 (Fibonacci 61.8% retracement) could be seen as next bullish targets.

On the downside, 1.0700 (Fibonacci 23.6% retracement, 50-period SMA) aligns as first before 1.0680 (100-period SMA) and 1.0650 (static level).

EUR/USD is the forex ticker that tells traders how many US Dollars are needed to buy a Euro. The Euro-Dollar pair is popular with traders because its constituents represent the two largest and most influential economies in the world. Follow real-time EUR/USD rates and improve your technical analysis with the interactive chart. Discover the factors that can influence the EUR/USD forecast and stay up to date with the latest EUR/USD news and analysis articles.