EUR/USD retreats as US jobs data and hawkish Fed dampen rate-cut bets

💡 DMK Insight

The EUR/USD dip below 1.1900 signals a potential shift in market sentiment as the dollar gains traction. The recent U.S. jobs report has reignited confidence in the Greenback, suggesting traders should reassess their positions. A strong labor market often leads to expectations of tighter monetary policy, which could further bolster the dollar. If EUR/USD continues to slide, watch for support around 1.1850; a break below this level could trigger more selling pressure. On the flip side, if the euro finds strength, it might bounce back, but that seems less likely given the current economic backdrop. Keep an eye on upcoming economic indicators from both the U.S. and Eurozone, as they could provide further direction. For now, the immediate focus should be on the 1.1900 resistance level—if it holds, we might see a consolidation phase, but if it breaks, expect a deeper retracement.