Technical Analysis: EURUSD bulls flex muscles near April 2018 high ahead of US NFP
EURUSD prints a four-day uptrend while probing the multi-month top flashed the previous day. Sustained trading beyond 1.2000 psychological magnet and anticipated weakness in the US employment figures, mainly the Nonfarm Payrolls (NFP) for November, favor the pair buyers. As a result, the early April 2018 low near 1.2215 gains the pair buyers' immediate attention. If at all the bulls manage to ignore overbought RSI beyond 1.2215, an upward sloping trend line from March, at 1.2285 now, will be on their radars.
On the downside, a clear break of the 1.2000 mark can drag the quote back to the early-November high near 1.1920. Though, an upward sloping trend line from November 04, around 1.1900, can question the EURUSD sellers afterward. In a case where the bears dominate past-1.1900, the 100-day SMA level of 1.1735 and November's bottom surrounding 1.1600 will be the key levels to watch.