EUR/USD – post Fed momentum fails to breach 200-DMA

Post Fed sell-off in USD lifted EUR/USD well above 1.10, but failed to take out 200-DMA level of 1.1075 in Asia, thus leaving the pair around 1.1060 levels.

Focus on German jobs data

EUR traders await the release of German data, which could show unemployment rate remained unchanged at 6.1% in July and number of jobless people dropped by 4K. This will be followed by the release of Eurozone sentiment indices, which in the post Brexit world have gained added importance.

Later in the day, US advance goods trade balance data and weekly initial jobless claims would influence the pair.

EUR/USD Technical Levels

A break above 1.1075 (200-DMA) would open doors for 1.11 levels (zero figure). A violation there could yield 1.1131 (June 16 low). On the other hand, a breakdown of support at 1.1052 (daily low) would expose 1.1024 (10-DMA) and 1.10 (zero figure) levels.