EUR/USD breaks range with a sharp slide to test NFP lows

EUR/USD dropped sharply during the last hour ending hours of range trading. The pair broke decisively to the downside amid a strong rally of the US dollar. It fell from 1.1800 to 1.1735, moving toward last week lows. 

The euro is back under pressure against the US dollar after being unable to hold above 1.1800. The forex market ended hours of calm with a dramatic USD rally, following a strong JOLTS report. Job Openings came in at 6.163 million in June, above market expectation of 5.775 million. 
 
The pair is about to test Friday’s lows, reaffirming the current corrective stance, after hitting last week 2-year highs above 1.1900. 

Technical levels 

To the downside, the immediate support is seen at 1.1725/30 (Aug 4 low), 1.1685 (Jul 21 & 24 high) and 1.1650 (Jul 27 low). On the opposite direction, resistance now might lie at 1.1775 (Aug 7 low), 1.1800 and 1.1825 (daily high).