Brocker.Org: EUR/USD stays on the defensive near 1.0920 post-ADP


The single currency remains entrenched into the negative territory today, with EUR/USD so far managing well to keep the trade above 1.0900 the figure.

EUR/USD supported near 1.0900

The pair kept the familiar range after the US private sector added 177K jobs during last month, practically in line with forecasts for a 180K gain and coming down from March’s 255K (revised from 263K).

The buying interest around the buck keeps prevailing today, weighing on any bullish attempt from the pair and lifting the US Dollar Index to the vicinity of the critical 99.00 handle ahead of the FOMC meeting due later in the NA session.

Still in the US, Markit’s Services PMI is next on tap ahead of the more relevant ISM Non-manufacturing for the month of April.

EUR/USD levels to watch

At the moment, the pair is retreating 0.10% at 1.0919 and a break below 1.0850 (low Apr.27) would target 1.0835 (200-day sma) en route to 1.0805 (23.6% Fibo of the April rally). On the flip side, the next up barrier aligns at 1.0937 (high May 3) seconded by 1.0951 (2017 high Apr.25) and finally 1.1300 (high Nov.9 2016).