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Forex pairs in this Article » EUR/USD (Edinburgh) - The EUR/USD is waiting for the US Payrolls below 1.2900 the figure on Friday, extending the intraday downside post-ECB.

EUR/USD door open for further pullbacks

The euro continues to trade on the back foot, as sentiment amongst investors remains hurt after yesterday’s dovish tone from the ECB’s statement. Recall that the adoption of forward guidance for the monetary policy by the central bank commanded by Draghi sparked a sharp sell off in the euro, dropping from highs around 1.3020 to fresh 5-week lows in the vicinity of 1.2880. A surprise in today’s NFP could exert another blow to the EUR, extending the decline.

EUR/USD levels to watch

At the moment the pair is losing 0.15% at 1.2894 with the next support at 1.2883 (low Jul.4) would open the door to 1.2859 (weekly cloud top) ahead of 1.2838 (low May 29). On the upside, resistance levels align at 1.3032 (high Jul.3) followed by 1.3055 (MA100d) and finally 1.3078 (high Jul.2).
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