EUR/USD clings to gains above 1.1100
EUR/USD advanced to its highest level since Friday, when stronger-than-expected nonfarm payrolls gave the dollar a boost and sent the pair to a low of 1.1045.
EUR/USD has been in recovery mode over the last sessions, having taken back most of Friday’s losses, although the upside has been capped by the 1.1120/25 area so far. At time of writing, the pair is trading at 1.1110, still up 0.21% on the day.
In the absence of first-tier data, FX market has been driven by the risk-on mood on Tuesday, with European equities closing with gains and oil prices reaching 3-week highs.
EUR/USD levels to watch
In terms of technical levels, next resistances are seen at 1.1122/25 (Aug 9 high/10-day SMA), 1.1150 (50-day SMA) and 1.1229 (100-day SMA). On the other hand, supports could be found at 1.1070 (Aug 9 low), 1.1045 (Aug 5 low), 1.0951 (Jul 25 low) and 1.0911 (Jun 24 low).