EUR/USD keeps range near 1.1100 on PMIs, NFP in focus

The EUR/USD side-trend extends into the European session, with the EUR bulls little impressed by the latest Euro area services PMI reports, as all eyes stay focused on the NFP report for next direction.

EUR/USD: Recovery remains capped below 1.1110                                       

Currently, EUR/USD trades -0.07% lower at 1.1098, unable to chew offers lined up near 1.1110 levels. The EUR/USD pair keeps its range-play intact in a 20-pips slim band, reflecting a typical scenario ahead of the crucial US labor market report.

Further, the major failed to react to a series of mixed final services PMI reports from across the Euro area, with only the German services activity showing a slight improvement last month.

Markets now eagerly await the US NFP data for fresh impetus on the EUR/USD pair, as a solid print is expected to seal in a Dec Fed rate hike deal and send the greenback on a roll higher against its main competitors.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.1130 (100-DMA). A break beyond the last, doors will open for a test of 1.1168 (daily S2) and from there to 1.1195 (200-DMA). On the flip side, the immediate support is placed at 1.1088 (daily low) below which 1.1067 (5-DMA) and 1.1000 (psychological levels/ 10-DMA) could be tested.

To learn more about this topic, check our video analysis