Forex: EUR/USD hovering over 1.3650, NFP eyed
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The shared currency us hovering over the mid 1.3600 on Friday, extending its correction after hitting highs above 1.3670 earlier ahead of the US Non-farm Payrolls due later (160K exp.).
The euro continues to breach key barriers this week, and Jane Foley, Chief Currency Strategist at Rabobank commented, "Our non-consensus view that EURUSD would push higher has been vindicated, but we can't help but feel uncomfortable with EURUSD at current levels and are concerned that a correction is on the cards".
At the moment, the pair is up 0.53% at 1.3650 with the next resistance at 1.3815 (high Nov.14) and then 1.3833 (61.8% of 2011-2012 decline).
On the flip side, a break below 1.3574 (hourly low Feb.1) would clear the way to1.3542 (low Jan.31).
The euro continues to breach key barriers this week, and Jane Foley, Chief Currency Strategist at Rabobank commented, "Our non-consensus view that EURUSD would push higher has been vindicated, but we can't help but feel uncomfortable with EURUSD at current levels and are concerned that a correction is on the cards".
At the moment, the pair is up 0.53% at 1.3650 with the next resistance at 1.3815 (high Nov.14) and then 1.3833 (61.8% of 2011-2012 decline).
On the flip side, a break below 1.3574 (hourly low Feb.1) would clear the way to1.3542 (low Jan.31).
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