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Forex pairs in this Article » EUR/USD (Barcelona) - EUR/USD traded in a tight range overnight, but was fairly bid, with spot gently climbing from its opening low at 1.3600 to post a morning high at 1.3618.

EUR/USD eyes on Non Farm Payrolls

Overnight saw a EUR/USD trade in a tight range, inching higher throughout the session, with traders eyes firmly on Non Farm Payrolls later today. The market looks positioned for expectations of a strong number, but on the flip side, it could be positioned for a strong reaction if disappointed. Yesterday´s ECB Meeting was quite dovish in nature, meaning that should Non Farm Payrolls exceed expectations, the Fed outlook will turn Hawkish, indicating downside pressure for the pair. Considering these expectations, a miss could see a sharp reaction to the upside. Ahead this morning we have Eurozone GDP at 10:00 GMT, but all eyes will be firmly positioned on Non Farm Payrolls, the headline event of the month.

What are today´s key EUR/USD levels?

Hourly RSI sits at 54, with ADX at bearish at 54. Todays central pivot point sits at 1.3595, just below where spot is presently trading at 1.3606. Further support can be seen at 1.3557 (S1), 1.3548 (2014 & Jan 9 Low), 1.3543 (Dec 5 Low), 1.3525 (Dec 3 Low), & 1.3509 (S2). Above resistance can be seen at 1.3629 (50D SMA), 1.3635 (Jan 8 High), 1.3643 (R1), 1.3657 (Jan 7 High), 1.3673 Jan 3 High), & 1.3681 (R2). Further, a Piercing Line candlestick pattern can be seen on the daily chart.
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