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EUR/USD has been marginally weaker, hovering around 1.1800.

  • 06 August, 2021
  • 12:23 pm EEST

EUR USD

The EUR/USD currency pair has dropped 0.2% to a low of 1.1808.

There isn’t much else going on in the market right now as we count down to the announcement of US non-farm payrolls at 1230 GMT.

The euro is slightly weaker as the day’s small ranges widen, with EUR/USD currently dropping 0.2% to 1.1808.

Sellers are in near-term control as price action keeps below both key hourly moving averages but support around 1.1800 and levels just below that have been a stubborn barrier that sellers haven’t quite broken through throughout the month of July.

Price is presently closing in around 1.1800, but keep in mind that there are big expiries at the figure level, which will likely restrict any major drop before the critical risk event later in the day.
A positive US jobs report later in the day might ignite dollar buys and give sellers a boost to go back towards the July low of 1.1752. Before the late March lows @ 1.1704-11 come into play, that will be an important support region to watch.

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