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EUR/USD Climbs Following NFP Release
The EUR/USD pair has seen a resurgence in its upward trajectory after bouncing off the lows of $1.0724-23 recorded in December and early February. The rally led the pair to reach Thursday’s peak of $1.0876, although it retraced some gains following the release of Friday’s Non-Farm Payrolls report.
Despite the pullback, the $1.0876 high remains significant, hovering slightly below the February highs ranging between $1.0888 to $1.0897. Potential declines are anticipated to find support near or above the $1.0796-91 region.
EUR/GBP Continues Its Upward Momentum
The EUR/GBP pair continues its gradual ascent from the low of £0.8531, with the 200-day simple moving average (SMA) at £0.8605 being its next target.
A breach below the £0.8531 low could signal bearish implications, potentially retesting the £0.8499 low recorded in February.
GBP/USD Shows Strength
GBP/USD is once again eyeing the 55-day SMA at $1.2668, having stabilized around the 200-day SMA on Friday. Beyond Thursday’s peak of $1.2684 lies the high of $1.271 recorded on February 22.
Minor support levels are identifiable around Friday’s low of $1.2574.
This analysis underscores the renewed momentum observed across major currency pairs in response to the robust US employment report, with each pair exhibiting distinct patterns and potential trading scenarios.
