यह भी देखें
09.08.2021 02:39 PM
EUR/USD is trading on the backfoot above 1.1750, licking its wounds after Friday's US NFP jobs blowout induced sell-off. Stronger US jobs data ramped up calls for the Fed's sooner-than-expected tightening. The rally in Treasury yields is limiting the pair's upside attempts ahead of the publication of the eurozone Sentix data.
From a technical perspective, the post-NFP downfall dragged the pair below a short-term ascending trend-line support. The further bearish breakdown may add credence to the negative outlook. Hence, some follow-through weakness towards challenging YTD lows, around the 1.1700 mark touched in March, now looks possible. The downward trajectory could extend towards the next relevant support near the 1.1610-1.1600 horizontal zone.
On the flip side, the 1.1800 round-figure mark now seems to act as immediate strong resistance. Any further rise is more likely to meet resistance and be capped near the 1.1830-35 region. A sustained strength beyond might trigger a short-covering move and push the pair back towards the 1.1880 supply zone. This level is closely followed by the 1.1900 mark, which if conquered might negate the bearish bias and allow bulls to aim back to reclaim the key psychological mark of 1.2000. The latter coincides with the very important 200-day SMA, which may shift the near-term bias in favour of bullish traders.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
