EUR/USD nurses moderate losses ahead of the US flash PMIs

💡 DMK Insight

EUR/USD is showing resilience above 1.1730, and here’s why that matters: Despite posting moderate losses, the pair is on track for its best weekly performance since June, indicating strong bullish momentum. Traders should note that this level has been a key support zone in recent weeks, and holding above it could signal further upside potential. If the euro continues to gain traction, we might see a test of the next resistance level around 1.1800. However, it’s worth considering the broader market context. With ongoing discussions around interest rate policies from the ECB and Fed, volatility could spike if any unexpected news breaks. Keep an eye on economic indicators like the upcoming U.S. Non-Farm Payrolls report, as it could influence dollar strength and, consequently, the EUR/USD pair. Watch for any significant moves around this key data release, as it could provide trading opportunities for both day and swing traders.