Tech Talk – EURUSD – NFP Roulette

By: Milla Shaw in Forex Consultant on Jul. 6, 2011

09:45 GMT July 9 It is time for NFP roulette and this has seen the euro retreat in thin predata trading as the effect of the ECB kicking Portuguese debt down the road has been replaced by concerns over Eurozone banks.

This puts the eur/usd on the defensive heading into the US jobs report but within yesterday’s 1.42201.4374 range. Looking at that range suggests a possible 1.421.44 range for today although much will depend on US data and the reaction to it. Note, key support is at last week’s 1.4101 low. This week’s 1.4577 high is out of range for today.

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