EUR/USD extends recovery, approaches daily highs

By FXStreet FXStreet (Córdoba) – EUR/USD picked up fresh momentum and moved back to the upper-side of Friday’s range as the week draws to an end and investors continue to assess the US employment report while wondering if the Fed for the liftoff.

EUR/USD bottomed out at 1.1089, just a couple of pips above yesterday’s floor set on the back of Draghi’s dovish comments, but managed to recover ground during the American afternoon, turning positive for the day and climbing back above the 100-day SMA.

At time of writing, the pair is trading at 1.1158, up 0.33% on the day, but still headed for a slight weekly loss.

EUR/USD levels to watch

In terms of technical levels, immediate resistances could be found at 1.1188 (Sep 4 high), 1.1200 (psychological level/21-day SMA) and 1.1243 (Sep 3 high). On the flip side, supports are seen at 1.1086/82 (Sep 3 low/50-day SMA) and 1.1017 (Aug 19 low) ahead of 1.1000 (psychological level).
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Source:: FX Street