EUR/USD trims NFP-inspired losses

EUR/USD bounced from post-nonfarm payrolls lows and managed to trim intraday losses, although the recovery attempt proved limited.

EUR/USD bottomed out at a 9-day low of 1.1045 as the dollar rallied after data showed US economy created more jobs than expected in July (255K vs 180K expected). EUR/USD slid below the convergence of 20- and 200-day SMA but recovered afterwards. At time of writing, the pair is trading at 1.1084, still 0.39% below its opening price.

EUR/USD levels to watch

In terms of technical levels, next supports are seen at 1.1045 (Aug 5 low), 1.0951 (Jul 25 low) and 1.0911 (Jun 24 low). On the other hand, resistances could be found at 1.1152 (50- day SMA), 1.1231 (100-day SMA) and 1.1300 (psychological level).