Chart Of The Day: EURUSD trades close to near-term key resistances on NFP day

Fri, 07 Jun 2019 13:42

Not only 5-month old descending trend-line but 100-day SMA also confines the EURUSD's upside on all the important US NFP day. As a result, the importance of 50-day SMA level of 1.1210 and 1.1140 becomes high ahead of pushing sellers to look towards 2019 low around 1.1100. Should there be additional downside by the pair under 1.1100, 61.8% FE level of its moves from January end at 1.1050 gains market attention.

On the upside break above 100-day SMA level of 1.1275 and 1.1310 trend-line, the quote can question 1.1370 figure including 200-day SMA. Additionally, the pair's sustained rise above 1.1370 enables buyers to target March high around 1.1450.

Join us on FB and Twitter to stay updated on the latest market events.