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EUR/USD Bounces Along 50-Day SMA amid Post-NFP Rebound
EUR/USD bounces along the 50-Day SMA (1.0829) as it attempts to retrace the decline following the 303K rise in US Non-Farm Payrolls (NFP), but the exchange rate may give back the advance from the monthly low (1.0725) as it snaps the series of higher highs and lows from earlier this week. EUR/USD may track the negative slope in the moving average if it struggles to hold the indicator, and developments coming out of the US may continue to sway the exchange rate as the Federal Reserve still forecasts a less restrictive policy in 2024. However, the update to US Consumer Price Index (CPI) may keep the Federal Open Market ... (full story)
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- Posted: Apr 7, 2024 3:30pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,965
