EUR/USD down smalls around 1.1200

The shared currency is posting marginal losses vs. the greenback on Thursday, taking EUR/USD to the 1.1200 neighbourhood ahead of the opening bell in Europe.

EUR/USD looks to Payrolls, Draghi

The pair is alternating advances and pullbacks so far this week, always around the 1.1200 handle and against the backdrop of a generalized bid tone surrounding the US dollar.

Cautiousness among traders has been growing bigger as well in light of the upcoming Non-farm Payrolls (172K exp.) and the press conference by President M.Draghi following the IMF/World Bank Annual Meetings in Washington on Saturday, particularly after recent rumours that the ECB could taper its bond purchases.

In Euroland today, the ECB will publish its accounts of the latest monetary policy meeting along with speeches by board members P.Praet and I.Angeloni. Across the pond, the usual report on the US labour market is only due.

EUR/USD levels to watch

The pair is now losing 0.04% at 1.1200 and a break below 1.1167 (200-day sma) would target 1.1095 (2014-2016 support line) en route to 1.1043 (low Aug.5). On the other hand, the next up barrier is located at 1.1263 (resistance line off 2016 high) followed by 1.1279 (high Sep.26) and finally 1.1329 (high Sep.8).