EUR/USD: Firm NFP print to add renewed downside pressure – OCBC

EUR/USD came within a touching distance of 0.9900 on Thursday but managed to stage a rebound early Friday. A firm Nonfarm Payrolls could pose renewed downside pressure on the pair, economist at OCBC Bank report.

0.9910-1.0000 range likely intra-day

“Consolidative trades likely ahead of US data event risk – payrolls. A firmer print there could pose renewed downside pressure on EUR.”

“Support at 0.9910, 0.9850 levels.”

“Resistance at 1.0010 (23.6% fibo retracement of Aug high to low), 1.0080 levels (38.2% fibo).”

“0.9910-1.0000 range likely intra-day.”

See – NFP Preview: Forecasts from eight major banks, employment growth still strong