The Euro gains for a second day following weak US jobs data but fails to break key resistance at 1.1475.
The EUR/USD pair remains below the 1.1475 resistance level despite a second consecutive day of gains for the Euro. Weakness in the US Dollar follows Thursday’s disappointing US Nonfarm Payrolls report, which fell short of expectations.
Prior to the NFP release, the Dollar had shown resilience, but the softer jobs data triggered a pullback. The 1.1475 level has acted as a technical barrier, limiting further upside for the pair.
Markets are assessing the implications of the jobs report on Federal Reserve policy, with traders pricing in potential rate cuts later this year.