EUR/USD fell back to lows of 1.0800 on Friday following a bearish rejection at the key 100-day simple moving average (SMA) of 1.0874.
A range of risks appear to be weighing on EUR/USD, including weaker-than-expected German data, geopolitical risks stemming from tensions in the Middle East and recent comments from U.S. Federal Reserve officials.
Friday’s US non-farm payrolls report at 12:30 GMT is the next major event that could spark moves in EUR/USD. If non-farm payrolls rise more than expected in March (expected to be 200,000), it will be supportive for the dollar, and vice versa.
If the average hourly earnings section of the labor report shows a large change in wage inflation, that would also have an impact on the currency pair. A rise would support the dollar (pushing EUR/USD lower), a fall would do the opposite.