EUR/USD hovers below 1.1100, searching for fresh triggers

EUR/USD has been trading around its Friday’s close, facing mild pressure on the back of a stronger-than-expected US jobs report, but overall in consolidation mode unable to set short-term direction.

EUR/USD bounced from a post-NFP low in the 1.1045 zone but the upside was capped by the 1.1100 area, confining the pair to a sideways phase. At time of writing, the pair is trading at 1.1075, little changed on the day in the absence of relevant releases in both the Euro area and the US.

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 flip side, resistances could be found at 1.1110 (10-day SMA), 1.1150 (50-day SMA) and 1.1230 (100-day SMA).