At the end of last week, the European currency showed a steady rise as investors took profits looking for a USD growth in the medium and long run amid the forthcoming US interest rate hike. US Non-farm Payrolls, released on Friday, added volatility to the pair dynamics. In July, only 215K new jobs were created against 231K earlier and the forecast of 223K. Average Weekly Hours grew by 0.1 to 34.6, exceeding the forecast. The unemployment rate remained unchanged at 5.3%.
Bollinger Bands® on the daily chart remains flat. Currently, the price is near the middle MA. The indicator gives no clear trading recommendations.
MACD is growing unsteadily, keeping an inconsistent buy signal. It is recommended to keep and open long positions in the short and very short run.
Stochastic has almost reached the overbought area, but is still indicating the possibility of a EUR growth in the very short term.
Support levels: 1.0914-1.0900 (the nearest short-term “bearish” target), 1.0865, 1.0808 (20 July low) и 1.0784 (24 April low).
Resistance levels: 1.0970 (around 7 August local high), 1.1000 (strong psychological level), 1.1035, 1.1100, 1.1129 (27 July local high), 1.1150 и 1.1200 (near month highs).