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Forex pairs in this Article » EUR/USD (London) - EUR/USD has moved lower to print a low of 1.3138 in NA.

“The number of potential triggers for EUR weakness and a partial European relapse appears to be growing, against a backdrop of persistent underlying issues which have been points of concern for us right the way through,” said Stephen Gallo, Head of FX Strategy at BMO. The test for the pair will be the US payrolls that will be make or break for September tapering, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities. “…with 100k being the key threshold.”

EUR/USD 1.3020 is exposed

The pair has broken the 38.2% retracement of the move from July and leaves 1.3020, 1.2904 exposed (these are the 61.8% and the 78.6% retracements of the move up from July). The 20 DMA is 1.3317, the 50 DMA 1.3192, and the 200 DMA is 1.3145. RSI (14) 35.81. Supports are ascending from 1.3051, 1.3127 and spot is currently 1.3157 while resistances are 1.3173 1.3190, 1.3237, 1.3255, 1.3280 and 1.3305.
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