Forex: EUR/USD reaches 20-day MA, 1.3156

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Forex: EUR/USD reaches 20-day MA, 1.3156

FITITOL--> FXstreet.com (Barcelona) - The bounce movement from 1.3121 low on disappointing ADP employment data (actual 119k of 175k consensus), has extended towards the 20-day moving average, at 1.3156.

Risk-off sentiment is still the voice of today’s market. Fed’s Lacker speech is due at 16:30 GMT with possible market volatility expected at that time.

“At the same time 20 SMA crosses upside down the 200 EMA, while in the 4 hours chart there is a strong bearish momentum that suggests more slides ahead, with 1.3070 and 1.3030 as next bearish targets”, wrote FXstreet.com independent analyst Valeria Bednarik.