EUR/USD pulls back modestly from 1.0250 ahead of jobs report

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  • Markets calm ahead of key US data
  • The focus is on the US employment report to be released at 12:30 GMT.
  • Dollar rises modestly, pushing EUR/USD lower.

The EUR/USD is falling on Friday after failing to break 1.0250 and is trading around 1.0230, ahead of the US jobs report against a slightly appreciating dollar in the market.

In the Sweet wait

Wall Street futures are trading flat, as are Treasury yields. This calm before the key event contributes to the stability of the EUR/USD.

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In Europe, industrial production data were released that were mostly positive surprises. In Germany a rise of 0.4% was recorded in June, France advanced 1.4% and in Spain 1.1%. The downside came with a 2.1% drop in Italy. The Eurozone data will be reported next Friday, which is expected to show a rise of 0.1%.

The great attention of the market is focused on the US employment report Nonfarm payrolls point to a 250,000 rise according to market consensus. This would imply a slowdown, but still a robust market. The expectation is that the unemployment rate will remain at 3.6%.

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The EUR/USD hits jobs data pulling back slightly after failing to break above 1.0250 firmly. The pair’s strong barrier remains around 1.0250/80. A confirmation above would leave the euro stronger. The next major resistance is seen at 1.0370.

In the opposite direction, at 1.0195 is the first significant support and then 1.0140 follows. The critical level appears at 1.0100, as a confirmation below would be a negative signal for the euro, putting the parity at risk.

Technical levels

EUR/USD

Overview
Today last price 1.0234
Today Daily Change -0.0012
Today Daily Change % -0.12
Today daily open 1.0246
trends
Daily SMA20 1.0161
Daily SMA50 1.0387
Daily SMA100 1.0571
Daily SMA200 1.0936
levels
Previous Daily High 1.0254
Previous Daily Low 1.0154
Previous Weekly High 1.0258
Previous Weekly Low 1.0097
Previous Monthly High 1.0486
Previous Monthly Low 0.9952
Daily Fibonacci 38.2% 1.0216
Daily Fibonacci 61.8% 1.0192
Daily Pivot Point S1 1.0182
Daily Pivot Point S2 1.0119
Daily Pivot Point S3 1.0083
Daily Pivot Point R1 1.0281
Daily Pivot Point R2 1.0317
Daily Pivot Point R3 1.0381

Source: Fx Street

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