Market Participants Lock Gaze on the US NFPs

Equities Rebound, USD Slides Ahead of US NFPs

The US dollar traded lower against all the other major currencies on Thursday and during the Asian session Friday. It lost the most ground against the risk-linked AUD, NZD, and CAD, and the least against the safe-haven JPY, which suggests that the financial community may have traded in a risk-on fashion.

EUR/USD — Technical Outlook

EUR/USD traded notably higher yesterday, after hitting support near the 1.0640 zone, which was already marked as a support, by the inside swing high of May 5th. Yet, it remains below the 1.0790 area, marked by the prior peak, formed on May 30th, as well as below the prior upside support line taken from the low of May 13th. Thus, we would still see chances for the bears to jump back into the action again.

GBP/USD — Technical Outlook

GBP/USD traded higher as well, after hitting support at 1.2470, a support already marked by the low of May 24th. However, the pair remains below the downside line taken from the high of March 23rd, and as with EUR/USD, we see decent chances for the bears to take charge again at some point soon.



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