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Forex pairs in this Article » EUR/USD (London) - EUR/USD is slowing down into the closing hours of this weeks session, up on the week by some margin.

Strategists at Commerzbank said it is possible that we will see an extension to the 78.6% retracement at 1.3718, but then look for this to provoke failure. As a reminder, from the data front, the NFP’s number printed 230k vs a consensus of 180k while the Unemployment Rate printed 7% vs 7.2% consensus. The Michigan consumer sentiment index was also beating expectations at 82.5 vs 76.0 consensus. 1.3718 could be seen as the last defense for the 1.3833 recent peak. Strategists at Commerzbank said, “Failure ahead of 1.3718 will focus attention back to the 1.3295/94 zone (current November low and the 50% retracement of the move up from July).

EUR/USD Levels

The 20 DMA is 1.3521, the 50 DMA is 1.3571 and the 200 DMA is 1.3237. RSI (14) reads 66.98. Supports are descending from 1.3543, 1.3597, 1.3623, 1.3646, 1.3665 and 1.3675. Spot is 1.3692 while resistances are1.3696 and 1.3718.
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