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6 Dec 2019
EUR/USD price analysis: NFP smashes expectations, euro drops near 1.1080 level
- The Nonfarm Payrolls smashed market expectations with 266k vs. 180k forecast.
- EUR/USD is down. Key support to break for bears is at the 1.1063 level.
EUR/USD daily chart
EUR/USD, on the daily chart, is trading in a downtrend below the 200-day simple moving average (DMA). The Nonfarm Payrolls smashed expectations with 266k vs. 180k expected by analysts.
EUR/USD four-hour chart.
EUR/USD is pulling back down and found some support near the 200 SMA on the four-hour chart. The picture remains quite mixed, with the spot remaining stuck in the 1.1063-1.1103 range. Bears would need a clear daily break below the 1.1063 level in order to reignite some more robust selling interest.
EUR/USD 30-minute chart
The euro is challenging the 200 SMA as it dropped to daily lows after the NFP. Resistance is seen at the 1.1103 and 1.1138 levels, according to the Technical Confluences Indicator.
Additional key levels