EUR/USD: Attempting to break above hourly 50-MA

By FXStreet FXStreet (Mumbai) – The EUR/USD is off the lows, but is struggling to rise above the confluence of the hourly 50-MA and 10-MA located at 1.0875 levels.

EUR –vulnerable to strong NFP?

The EUR appears as the most vulnerable major currency in case the NFP blows past estimates and leads to a rise in the December Fed rate hike bets. This is because the ECB has hinted at more easing in December.

The data due in a couple of hours is likely to show the US economy added 180K jobs in October, leaving the unemployment rate unchanged around 180K.

EUR/USD Technical Levels

The immediate resistance is located at 1.09, above which the pair could target 1.0951 (hourly 100-MA). The next resistance is seen at 1.0969 (hourly 200-MA). On the other side, support is seen at 1.0863 (daily low) and 1.0833 (previous day’s low).
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Source:: FX Street