EUR/USD remains moderately bid ahead of US Nonfarm Payrolls data

💡 DMK Insight

The Euro’s slight uptick against the Dollar is more than just a number—it’s a signal of potential volatility ahead. Trading around 1.1920, the Euro is holding above last week’s lows, which could indicate a short-term bullish sentiment. However, it’s crucial to note that the pair remains trapped within the previous days’ range, suggesting indecision among traders. If the Euro can break above the 1.1950 resistance level, we might see a stronger rally, but failure to do so could lead to a retest of last week’s lows. Keep an eye on economic indicators from both the Eurozone and the US, as these could provide the catalyst needed to push the Euro decisively in one direction. On the flip side, if the Dollar strengthens due to positive US economic data, it could quickly reverse any gains the Euro has made. So, watch for key data releases this week that could impact both currencies, especially any shifts in interest rate expectations.