FXStreet — The Payroll-induced decline in Greenback supported the rise in the EUR/USD to the new 2017 to 1,1280 and so is the door for a potential Test of the 1.1300 open.
EUR/USD bids after U.S. data
The Pair reached the 1,1280 quickly, according to the US labour market data for may were disappointing, what weighed on the Greenback on a broad Front.
The US Dollar Index, which represents the strength of the USD against 6 major rivals, fell to 96,70/60 and now the focus shifts to the FOMC meeting this month, the market expects a tightening of monetary policy.
According to Reuters FedWatch Tool, the probability of rising interest rates in this month of 91.2%, whereas it was prior to the Payrolls of more than 95%.
EUR/USD significant levels
Currently, the days income is 0.55 % in the case of 1,1275 and the next Resistances lie at 1,1282 (2017 High 2. June), 1,1300 (High-9. Nov. 2016) and 1,1367 (High 18. Aug. 2016). On the other hand, supports are located at 1.1165 (Deep 31. May), 1,1108 (Deep 31. May) and 1,1073 (76,4 % Fibo of 1,1300-1,0339).
** FXStreet News Editorial, FXStreet**