9 Jun 2014
EUR/USD finds solid support at 1.3620
FXStreet (Bali) - EUR/USD is trading at 1.3645, off 1.3620 Friday's low, which came as a response to decent US NFP numbers.
The NFP number, which came in line with market expectations (217k vs 215k exp), "is giving the market no reason to expect the Fed to divert its current course in the near future", notes Jim Langlands, Founder at FXCharts.
The fact that the pair ends just below the 200 DMA, according to Jim, "is keeping the bulls tethered for the time being." Jim adds that "being an EU holiday and with no US data due, I would not expect too much action today but suspect we could see a bit more of a short squeeze, possibly to around 1.3730 over next few days."
The NFP number, which came in line with market expectations (217k vs 215k exp), "is giving the market no reason to expect the Fed to divert its current course in the near future", notes Jim Langlands, Founder at FXCharts.
The fact that the pair ends just below the 200 DMA, according to Jim, "is keeping the bulls tethered for the time being." Jim adds that "being an EU holiday and with no US data due, I would not expect too much action today but suspect we could see a bit more of a short squeeze, possibly to around 1.3730 over next few days."