The Euro rose significantly against the US dollar during yesterday's session, Thursday, April 3, 2025, successfully breaching the resistance level at 1.09547 and establishing a new high above it. This upward movement followed the decision by the US president to impose tariffs on approximately 180 countries, significantly impacting the performance of the US dollar negatively.
Currently, EUR/USD is experiencing a corrective downward movement that could extend towards the support level at 1.08211, considered an ideal point for resuming the bullish trend targeting the next level at 1.10490. The positive outlook remains valid unless the pair breaks below the critical support at 1.07331 with a daily candle closure beneath it. Such a scenario would invalidate the bullish scenario and strengthen bearish possibilities.
Today, markets await the release of the US employment data, where the Nonfarm Payrolls (NFP) are expected to decline from 151K to 137K. A reading higher than expected could positively impact the dollar and negatively affect the EUR/USD pair. Meanwhile, the unemployment rate is anticipated to remain steady at 4.1%, and any decrease below this level would support the dollar, adding further downward pressure on the EUR/USD pair.
Currently, EUR/USD is experiencing a corrective downward movement that could extend towards the support level at 1.08211, considered an ideal point for resuming the bullish trend targeting the next level at 1.10490. The positive outlook remains valid unless the pair breaks below the critical support at 1.07331 with a daily candle closure beneath it. Such a scenario would invalidate the bullish scenario and strengthen bearish possibilities.
Today, markets await the release of the US employment data, where the Nonfarm Payrolls (NFP) are expected to decline from 151K to 137K. A reading higher than expected could positively impact the dollar and negatively affect the EUR/USD pair. Meanwhile, the unemployment rate is anticipated to remain steady at 4.1%, and any decrease below this level would support the dollar, adding further downward pressure on the EUR/USD pair.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.