EUR/USD peeks into the green near 1.1050

The EUR/USD pair set-off a new week on a weaker footing, with the bears extending the control post-NFP release, although remains supported above 1.1030 region.

EUR/USD vulnerable below 1.1030?

Currently, EUR/USD now trades almost unchanged at 1.1052, recovering from session lows of 1.1034 reached earlier on the day.  The main currency pair runs through fresh bids post-Tokyo open and now regains 1.1050 barrier amid persistent risk-on market profile.

However, the upside surprise in the US NFP figures have eased worries over the strength of the US economic recovery and hence, fuelled optimism into the markets, which is likely to keep a lid on the funding currency euro.

Meanwhile, markets continue to closely monitor the USD moves in wake of the recent US employment numbers, while the broader markets sentiment will play a key role in the day ahead amid a lack of significant economic releases, except for the US LMCI data. Besides, Fed speak will be closely heard for fresh cues on the US interest rates outlook.

EUR/USD Technical Levels             

In terms of technicals, the pair finds the immediate resistance 1.1087/91 (200 & 10-DMA). A break beyond the last, doors will open for a test of 1.1144/50 (20-DMA/ psychological levels). On the flip side, the immediate support is placed at 1.1029/22 (Jul 6 & Jun 30 low) below which 1.1006/00 (Jun 26 low/ round figure) could be tested.