EUR/USD Technical Analysis
The EUR/USD is trading under bullish pressure towards 1.0950, provided it remains above 1.0872. A correction down to 1.0861 is possible before resuming the bullish trend. However, stability below 1.0861 could support a decline towards 1.0810 and 1.0792.
The EUR/USD is trading under bullish pressure towards 1.0950, provided it remains above 1.0872. A correction down to 1.0861 is possible before resuming the bullish trend. However, stability below 1.0861 could support a decline towards 1.0810 and 1.0792.
- Pivot Price: 1.0872
- Resistance Levels: 1.0950, 1.1000, 1.1070
- Support Levels: 1.0830, 1.0792, 1.0731
The price is expected to oscillate between the support at 1.0861 and the resistance at 1.0950.
US Dollar Declines Ahead of May Employment Report
Early Friday, the US dollar weakened against most of its major trading partners, except for an improvement against the Canadian dollar. Investors are now focused on the upcoming May employment report, set for release at 8:30 am ET.
Expectations for the report include a rise in nonfarm payrolls by 185,000, an unemployment rate remaining steady at 3.9%, and a 0.3% increase in hourly earnings.
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the price reversed to a bearish trend due to the result of NFP and Average hourly monthly
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