EUR/USD slips to lows near 1.1180 ahead of Payrolls

The shared currency has lost upside momentum today, sending EUR/USD to test daily lows in the 1.1180/75 band.

EUR/USD attention to Payrolls.

Spot continues to fade yesterday’s spike to the proximity of 1.1210 following poor results from the US ISM, which slipped back towards contraction territory.

However, the resumption of the buying pressure around the greenback on Friday has prompted sellers to return and drive the pair to current lows around 1.1180.

Ahead in the session, USD will take centre stage in light of the release of US Non-farm Payrolls, with market seeing the economy to have created 180K jobs during the month of August and the unemployment rate to have ticked lower to 4.8% during the same period.

EUR/USD levels to watch

The pair is now losing 0.13% at 1.1183 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).