The Euro struggles to break resistance at 1.1475 despite a softer USD following weaker-than-expected US jobs data.
The EUR/USD pair remains capped below 1.1475 on Friday, extending gains for a second day as the US Dollar weakens. The move follows Thursday’s disappointing US Nonfarm Payrolls report, which weighed on the USD.
Prior to the NFP release, the pair traded near 1.1400, with resistance at 1.1475 proving difficult to breach. The US jobs data missed expectations, fueling speculation about potential Federal Reserve rate cuts later this year.
Markets are now assessing the impact of the NFP report on Fed policy, with the EUR/USD pair consolidating near recent highs.