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EUR/USD hovering near 1.1200, on pre NFP mode

FXStreet (Córdoba) - EUR/USD rallied at the beginning of the American session after economic data from the US and peaked at 1.1208. Then pulled back modestly, finding support at 1.1185. During the last hours it has been hovering slightly below 1.1200, around 20 pips above yesterday’s closing price.

So far the pair moved in a range of less than 80 pips. It bottomed on Asian hours at 1.1134, the lowest in six days and then bounced to the upside, erasing losses. The euro gained momentum in the market as stocks decline in Europe and in Wall Street.

EUR/USD: Calm ahead?

Tomorrow in the US, the official employment report will be released. Market activity could remain steady and calm during the next hours and also during the Asian session as usually happens on Fridays before the NFP.

EUR/USD awaits the data trading near a key short-term support at 1.1080 – 1.1100 while the upside remains capped around 1.1270. Employment numbers could trigger volatility and pushed the pair toward the mentioned levels.

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