Thu, Aug 11, 2022 @ 19:57 GMT

EUR/USD Finds Support

The US dollar continues to retreat as profit-taking goes on ahead of nonfarm payrolls. The latest rally found support over 1.0100 after it cleared 1.0200. A series of higher lows indicates mounting buying pressure and short-term sentiment could be turning around. The recent high at 1.0270 coincides with the 30-day moving average and might be sellers’ last stronghold. Its breach may pave the way for an extended recovery. 1.0210 is a fresh support and the support-turned-resistance at 1.0400 from the daily chart could be the target.

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