EUR/USD keeps the red near 1.0960, NFP on sight

The demand for the single currency stays subdued at the end of the week, now prompting EUR/USD to attempt a sideline theme near daily lows around 1.0960.

EUR/USD all the focus on US Payrolls

The strong upside momentum surrounding the pair run out of steam in levels just below the psychological 1.1000 handle posted during the Asian trading hours, as the greenback seems to have managed to gather some buying interest.

On the USD-side, the US Dollar Index (DXY) is now retreating for the fourth consecutive week, quickly eroding yesterday’s advance to fresh tops beyond the critical 99.00 handle in response to the resurgence of a strong selling bias around the buck.

Looking ahead, April’s US Non-farm Payrolls are expected at 180K and the unemployment rate is seen at 4.6%. Focus, as well, will be on wage inflation pressures, gauged by Average Hourly Earnings.

In addition, Chief J.Yellen and Vice Chair S.Fischer are due to speak along with San Francisco Fed J.Williams (2018 voter, hawkish) and Boston Fed E.Rosegren (2019 voter, hawkish).

EUR/USD levels to watch

At the moment, the pair is retreating 0.18% at 1.0964 and a break above 1.0990 (2017 high May 5) would target 1.1000 (psychological handle) en route to 1.1300 (high Nov.9 2016). On the flip side, the immediate support aligns at 1.0890 (23.6% Fibo of the April-May rally) followed by 1.0833 (200-day sma) and finally 1.0819 (low Apr.24).