EUR/USD bounces-off 1.1100, awaits US NFP

The EUR/USD pair stalled its bearish run post-European open, having found solid support just ahead of 1.11 handle, although the recovery attempt appears to lose steam near 1.1130 region.

USD regain poise ahead of US jobs

Currently, EUR/USD trades -0.21% lower at t 1.1126, consolidating the renewed uptick to session highs of 1.1132. The main currency pair remains better offered, with the bounce from 1.1100 levels stalling on the back of improving risk sentiment, after both oil and stocks stage a minor-recovery, which weighs on the funding currency euro. More so, expectations of stronger US jobs report, also continues to underpin the greenback at the expense of the shared currency.

Calendar-wise, the spot ignored upbeat German industrial production data, as the main market moving event for today remains the US non-farm payrolls data due later in the NA session. The US economy is expected to have added 172k new jobs in Sept versus 151k job addition last.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1150 (psychological levels). A break beyond the last, doors will open for a test of 1.1168 (100-DMA) and from there to 1.1200 (round figure). On the flip side, the immediate support is placed at 1.1100 (round figure) below which 1.1067 (Aug 9 low) and 1.1043 (Sept low) could be tested.