EUR/USD fails to consolidate at 1.13 after NFP

EUR/USD's rally on Friday was halted by the 1.13 level, which turned to be a very significant resistance for the cross. Therefore, the common currency bounced back toward 1.12 by the end of weekly trading, despite weak US non-farm payrolls. Nonetheless, the Dollar's overall weakness means the Euro is still poised for gains in the nearest future. At least a rise above the 50% Fibonacci retracement of the Jul-Aug uptrend is needed to change our outlook from neutral to positive. Extra support will be offered by the bunch of moving averages at 1.1162/39.

Distribution between bulls and bears is neutral on Monday morning. Alongside, the portion of long pending orders in 100-pip range from the spot increased from 38% to 43% over the weekend.