Today at 12:30 GMT will be released the latest US NFP data of the year, as November’s number can help to fuel expectations on a Fed interest rate’s hike in the next meeting (December). Latest Nonfarm Payrolls showed that the US economy added 161,000 jobs in October and analysts expect an increase to 175,000. If we witness a better-than-expected scenario today, then a rate hike by Fed is a likely move to be done by the central bank at December’s meeting.
Our technical view for EUR/USD at the daily chart is quite bearish, with a strong support located around 1.0547. With a very positive NFP’s November data we can expect a breakout lower of that zone, which should open the doors to test the 1.04 psychological area. However, if data comes in weak, it’s highly likely to see a rebound in the pair towards the 1.0740 level, which is our next key resistance across the board.
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Origin: FX BAZOOKA
