(4 votes)

Last Updated Date: 2 September 2021 @ 6:01 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar fell against a basket of major currencies on Wednesday after a report on the U.S. labor market missed expectations by a wide margin, while the euro climbed to a one-month high on inflation worries.

The greenback fell after the ADP National Employment Report showed private payrolls rose by 374,000 in August, up from 326,000 in July but well short of the 613,000 forecast. A report on weekly initial jobless claims arrives on Thursday and on Friday the government releases the payrolls report for August, which could provide clues about the Federal Reserve's policy path.

The market went up, but the drive has reached against the 1.1845 - 1.1850 target zone. We may see further probes into the 1.1860 - 1.1880 zone, but rejected rallies approaching 1.1860, caution for corrective setbacks / topping trade. A sustained drop under 1.1830 alerts for a retracement to attack 1.1800 ⇒ 1.1753 for a topping turnover.

Resistance 2       1.1880
Resistance 1       1.1860

Support 1            1.1820
Support 2            1.1800


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