EURUSD: Continues to be unfavorable
Hello dear friends! EUR/USD continues to face heavy downward pressure and has dropped to its weakest level in three weeks below 1.0750 on Friday following stronger-than-expected non-farm payroll data.
As a result, the USD is once again supported for a recovery, acting as the main resistance for EUR/USD. Currently, this currency pair is temporarily closing its trading at the level of 1.075 and receiving some minor recovery momentum from the support level at 1.0746. Although there is still significant downward pressure, the possibility of further decline remains.
With unfavorable conditions for EUR/USD, it is likely that this currency pair will continue to be sold and pushed towards lower levels below 1.66.
As a result, the USD is once again supported for a recovery, acting as the main resistance for EUR/USD. Currently, this currency pair is temporarily closing its trading at the level of 1.075 and receiving some minor recovery momentum from the support level at 1.0746. Although there is still significant downward pressure, the possibility of further decline remains.
With unfavorable conditions for EUR/USD, it is likely that this currency pair will continue to be sold and pushed towards lower levels below 1.66.
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