In the end of last week, the pair fell amid mixed data form the US.
The Nonfarm Payrolls in January fell from 262 to 151 thousand new jobs which was significantly worse than the forecast of 190 thousand. At the same time, the Unemployment Rate in January unexpectedly fell from 5.0% to 4.9%. Furthermore, Average Hourly Earnings grew by 0.5% against the previous month, while experts predicted a 0.3% growth.
Bollinger Bands on the daily chart is moving up while the price range is widening. However, the price only now returns inside the range. MACD is growing and giving a weakening buy signal. Stochastic is in the overbought zone and trying to turn down.
The indicators suggest a possibility of a downward correction.
Support levels: 1.1100 (4 February low), 1.1059, 1.1000 (psychologically important level), 1.0967, 1.0939, 1.0900, 1.0867, 1.0834, 1.0800, 1.0777 (21 January low), 1.0710 (5 January low).Resistance levels: 1.1153 (local high), 1.1200, 1.1246 (5 February high), 1.1300 (22 October high), 1.1358, 1.1400.
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