FxWirePro: AUD/USD extends gains for the 4th straight session, close above 200-DMA raises scope for upside resumption
FxWirePro- EURUSD Daily outlook
Ichimoku analysis (4-Hour chart)
EURUSD surged more than 80 pips to 1.21463 after poor US jobs data. The US Non-Farm payroll raised by 266000 in Apr much below estimates of 990K and the unemployment rate increased to 6.1% from 6%. Average hourly earnings m/m surged to 0.7% vs estimate 0.0%.ed US dollar buying. The US10 –year bond yield lost more than 6.5% from a high of 1.58%. DXY breaks immediate support 90.80. Any breach below 90.40 confirms further weakness.
On the lower side, near-term support is around 1.2080, and any breach below targets 1.2040/1.1980/1.1945. The pair's near-term resistance is around 1.2150. Any surge above 1.2150 confirms a bullish continuation. A jump till 1.22000/1.2260 is possible.
Indicator (Daily chart)
CAM indicator –Bullish
Directional movement index – Bullish
It is good to buy on dips around 1.2090 with SL around 1.2040 for the TP of 1.2260.