EUR/USD finds support at previous cyclical high
Support – 1.1465, 1.14, 1.1376
Resistance – 1.15, 1.1534, 1.16
Resistance – 1.15, 1.1534, 1.16
- Following a failure to take out 1.1534 despite weak US ADP data, EUR/USD dropped to 1.1465 (previous cyclical high)
- Better-than-expected US ISM non-manufacturing print that carried rise in employment numbers is adding to the bearish pressure around pair.
- A daily closing below 1.1465 (also hourly 100-MA) could yield 1.14 levels ahead of Friday’s NFP release.
- Meanwhile, upticks could be met with offers as long as resistance at 1.1534 holds. If breached on daily closing basis 1.16 stands exposed.