EUR/USD gives away part of Thursday’s advance, stays around 1.0220.The pair needs to clear 1.0300 to allow for a more serious recovery.EUR/USD comes under pressure after faltering once again in the 1.0250/60 region at the end of the week.
The so far August high at 1.0293 (August 2) emerges as the magnet for bulls for the time being. Above this level, spot is expected to see its uptrend reinvigorated and could challenge the temporary 55-day SMA in the near term, today at 1.0404.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0927.
US July NFP data to ramp up dollar volatility – Live
The US Bureau of Labor Statistics will release the July jobs report and Nonfarm Payrolls are expected to increase by 250,000. Since the Fed’s decision to abandon its rate guidance, investors will use the labor market data to figure out the size of the next rate hike.
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EUR/USD News
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Gold eases from one-month high ahead of the US NFP report
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