The EUR/USD pair maintains its resistance below 1.0600, attracting some dip-buying on the week’s last trading day.
Spot prices rise from a one-week low reached on Thursday to a new daily high in the 1.0620-1.0625 range during the early European session.
A minor recovery in US equities futures is undermining the safe-haven buck, which is seen as supporting the EUR/USD pair.
However, a confluence of variables should assist prevent any further USD losses and limit the major’s upside for the time being.
The macroeconomic background, combined with the recent range-bound market action, should discourage traders from setting for a robust near-term move.
Investors may alternatively want to wait for the US Core PCE Price Index, the Fed’s preferred inflation gauge, which is coming later in the morning in North America.
|
Daily SMA20 |
1.0529 |
|
Daily SMA50 |
1.0247 |
|
Daily SMA100 |
1.0102 |
|
Daily SMA200 |
1.0337 |
