EUR/USD - Dips Below 1.0600 - Hit Fresh 1-Month Low - 04/11/2017 (GMT)

The single currency affected by U.S. dollar on Friday as it recorded a weaker NFP report and the U.S. is close to full employment. The EUR/USD pair slipped for the second red consecutive week and plummeted almost 2%. The rebound on the medium-term descending trend line drove the price sharply lower at 1.0570, posting a fresh one-month low.

The technical structure suggests further downside movement as the price broke the short-term rising trend line to the downside and is approaching the 1.0500 significant psychological level. Though, the pair needs to go through the 61.8% Fibonacci retracement level near 1.0560, with low at 1.0340 and high at 1.0906. Otherwise, a run above 50.0% fibo level at 1.0620, will expose the common currency pair towards 1.0720. On the 4-hour chart, the 50-SMA is moving downwards and is in progress to create a bearish crossover with the 200-SMA, indicating a strong negative momentum. On the daily chart, the MACD oscillator fell below the neutral level and is moving lower.