EUR/USD extends decline further below 1.1200

EUR/USD extended its decline during the New York session and made fresh lows for the day, as the dollar trades a tad firmer in an overall quiet environment ahead of the nonfarm payrolls report due tomorrow.

The dollar has been supported over the last days by a string of solid US data, with the main exception of the ADP report, which showed yesterday that private sector employment grew less than expected in September.

In the meantime, the euro lost most of its ECB tapering story-inspired gains and continued to pullback from the 1.1240 zone. EUR/USD has bottomed out at 1.1169 on Thursday and it continues to trade nearby, recording a 0.27% daily loss.

EUR/USD technical levels

In terms of technical levels, immediate supports are seen at  1.1137 (Oct 4 low), 1.1122 (Aug 31 & Sep 21 low) and 1.1100 (psychological level). On the other hand, resistances line up at 1.1216 (10-day SMA), 1.1250/58 (Sep 30 high/Sep 27 high), 1.1283 (Sep 15 high) and 1.1326 (Sep 8 high).