EUR/USD trims gains, back near 1.2240 ahead of NFP

• The index rebounds from lows near 1.2215 ahead of key US data.
• The greenback remains bid albeit off daily highs tracked by DXY.
• Us Non-farm Payrolls and the speech of chief J.Powell next on tap.

After bottoming out in the 1.2020/15 band earlier in the session, EUR/USD managed to regain some buying interest and retake the 1.2240 area.

EUR/USD all the attention on Payrolls

The pair once again tested the area of 5-week lows in the 1.2220/15 band earlier in the session, although sellers failed to push spot lower for the time being.

The generalized risk-on sentiment stemming from alleviated concerns over a US-China trade war continues to lend support to the buck and therefore undermines any bullish attempt in the pair.

Later in the NA session, the greenback’s performance will be put to the test in light of the publication of Non-farm Payrolls for the month of March (193K expected), the unemployment rate and critical figures from Average Hourly Earnings.

EUR/USD levels to consider

At the moment, the pair is retreating 0.03% at 1.2237 facing immediate support at 1.2216 (low Apr.6) 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).