The currency pair hovers near 1.1534, down 0.15% after a two-day rally, with traders eyeing Friday’s US jobs data for Fed policy clues.
EUR/USD retreated slightly to 1.1534, paring gains after a two-day advance as the US Dollar stabilized. The pair remains technically bullish, supported by a late-July rebound from below 1.1400, but faces resistance at the 100-day SMA of 1.1569.
Analysts note the EUR’s recovery aligns with shifting yield spreads, though further gains may hinge on changes in central bank policy or sentiment. The 50-day SMA at 1.1474 provides near-term support, while the 200-day SMA at 1.1629 caps upside momentum.
Traders are focused on Friday’s US Nonfarm Payrolls report, which could influence Federal Reserve rate expectations and drive volatility in the pair. Scotiabank expects consolidation between 1.1500 and 1.1600 in the near term.