EUR/USD (current price: 1.1401)
The pair continued lower following Tuesday’s reversal as expected as the most important Eurozone countries had bank holidays yesterday. EUR/USD will be in the centre of attention today, and investors will likely experience a surge in volatility in the afternoon. A negative Non-Farm Payroll number could send the Dollar plunging again, but if the U.S. economy will deliver the expected 203,000 new jobs, the pair could fall even further today.
Our assessment: The pair quickly fell back to the crucial support zone near 1.135 after testing the top of the long-term trading range at 1.16. The short-term trend-line support is currently at 1.1325, with the 200-day MA standing at 1.109.
