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Spotlight on EURUSD. The latest daily technical analysis by AAATrade reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.
 

EURUSD

Looking at EURUSD’s chart, we can see that the FX pair dropped as USD got stronger on Friday due to the announced lower unemployment rate and higher nonfarm payrolls. Fed’s Powel touted disinflation last Tuesday, which could be translated to a less aggressive rate hike policy and a weaker USD. 

Currently, the forex pair is traded at around $1.0736, and it could reach its resistance level at around $1.0760. If it is not able to pass it, then it should drop back toward its support level which is located at around $1.07, otherwise, it could approach its next resistance level at around $1.08.

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