Forex: EUR/USD down at 1.3000 ahead of the US NFP
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EUR/USD
FXstreet.com (Barcelona) - After a sharp fall ahead of the European opening, taking the EURUSD down from mid-1.30 to the lower area of the psychological level, the pair touched the 1.3000 mark around the time where traders went for lunch. The market remains pressured down there ahead of the US nonfarm payrolls report, the main attraction of the day.
TD Securities analysts expect the pace of job growth to ease to 82K, marking the slowest pace of employment growth since June, and a slightly higher unemployment rate from 7.7% to 7.8%. Commerzbank analysts expect strength of the greenback if the US nonfarm payrolls report gets around consensus or higher in December.
"After yesterday's break below 1.3125 support area the downtrend has accelerated, heading towards 1.2950 dynamic support on the daily frame", wrote Deltastock.com analyst Stoyan Mihaylov, favoring a reversal above 1.2950 to initiate a rebound for 1.3125 resistance area, while major support on the downside is 1.2880.
TD Securities analysts expect the pace of job growth to ease to 82K, marking the slowest pace of employment growth since June, and a slightly higher unemployment rate from 7.7% to 7.8%. Commerzbank analysts expect strength of the greenback if the US nonfarm payrolls report gets around consensus or higher in December.
"After yesterday's break below 1.3125 support area the downtrend has accelerated, heading towards 1.2950 dynamic support on the daily frame", wrote Deltastock.com analyst Stoyan Mihaylov, favoring a reversal above 1.2950 to initiate a rebound for 1.3125 resistance area, while major support on the downside is 1.2880.
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