EUR/USD choppy around 1.0770 on US data

EUR/USD is alternating gains with losses at the end of the week, currently looking to stabilize around the 1.0770 area following further US releases.

EUR/USD bid post-Payrolls

The pair has managed to bounce off daily lows in the 1.0710 region, although gains remain capped near 1.0780 following mixed results from the US docket today.

Sentiment post-Payrolls stays mixed among traders and after Factory Orders and Markit’s Services PMI have surprised to the upside. On the not so bright side, the ISM Non-manufacturing dropped a tad to 56.5 in January, vs. prior surveys at 57.0 and December’s 56.6.

Further news around the buck came from Chicago Fed C.Evans (voter, dovish) who earlier said that inflation is expected to reach the 2% target by 2019, although downside risks still remain.

EUR/USD levels to watch

The pair is now advancing 0.08% at 1.0768 facing the next hurdle at 1.0782 (high Feb.3) followed by 1.0829 (high Feb.2) and then 1.0873 (high Dec.8 2016). On the downside, a break below 1.0706 (38.2% Fibo of the Nov-Jan down move) would target 1.0685 (20-day sma) en route to 1.0617 (low Jan.30).