EUR/USD flirting with session lows near 1.2240, NFP eyed

• The pair is trading on the defensive near 1.2240 region.
• USD stays bid above the 90.00 handle ahead of key US data.
• Non-farm Payrolls expected around 200K for the month of March.

EUR/USD remains under pressure so far this week, trading in the lower bound of the weekly range in the 1.2240 region.

EUR/USD now looks to NFP

In spite of rebounding from yesterday’s lows in the 1.2220/15 band, the pair remains under heavy pressure in a context of broad-based demand for the greenback, which manages to keep the trade above the 90.00 handle when tracked by the US Dollar Index (DXY).

The risk-on sentiment prevails in the global markets and optimism stays unchanged on an eventual US-China deal, all despite recent threats by President Trump to impose further tariffs on Chinese imports of around $100 billion.

In the meantime, spot and the rest of the global assets are poised to remain sidelined in the very near term in light of the upcoming publication of the US jobs report, with Payrolls expected at 193K and the unemployment rate at 4.0%.

EUR/USD levels to watch

At the moment, the pair is retreating 0.02% at 1.2219 facing immediate support at 1.2219 (low Apr.5) seconded by 1.2206 (low Feb.9) and then 1.2165 (low Jan.18). On the other hand, a break above 1.2312 (10-day sma) would target 1.22346 (high Apr.2) en route to 1.2478 (high Mar.27).