EUR/USD sidelined near 1.1200, Payrolls eyed

The shared currency is extending its consolidative theme in the upper end of the recent range, with EUR/USD gyrating around the 1.1200 handle.

EUR/USD attention to NFP

Spot has regained the 1.1200 barrier and beyond on Thursday after US ISM has slipped back to contraction territory during August, disappointing investors and abruptly halting the USD rally at the same time.

Today’s Non-farm Payrolls will be the salient event and the exclusive catalyst of the pair’s price action in the very near term, while market participants will factor in the results against the backdrop of rising speculations on a Fed’s rate hike this month.

EUR/USD levels to watch

The pair is now losing 0.02% at 1.1195 and a break below 1.1128 (low Aug.30) would target 1.1127 (200-day sma) en route to 1.1043 (low Aug.5). On the flip side, the next hurdle lines up at 1.1218 (2014-2016 resistance line) followed by 1.1367 (high Aug.18) and finally 1.1434 (high Jun.24).