EUR/USD breaks below 1.1100 in the aftermath of Draghi

By FXStreet FXStreet (Córdoba) – EUR/USD extended losses below the 1.1100 level for first time in two week as the euro continued to suffer on the back of Draghi’s comments which left the door open to more QE in contrast with Fed’s stance.

EUR/USD fell below the 100-day SMA (1.1108) and stretched to a low of 1.1086 in recent dealings.. At time of writing, the pair is trading at 1.1090, recording a 1.20% loss on the day.

Market attention now turns to the US nonfarm payrolls report due tomorrow ahead of the Fed September meeting when some still hope the liftoff could take place.

EUR/USD levels to watch

As for technical levels, next supports could be found at 1.1081 (50-day SMA) and 1.1017 (Aug 18 & 19 lows). On the other hand, resistances are seen at 1.1243 (Sep 3 high), 1.1285 (200-day SMA) and 1.1318 (Sep 2 high).
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Source:: FX Street