EUR/USD (current price: 1.1049)
The key U.S. Employment Report didn’t cause a lasting move in the most traded pair as it finished Friday’s session close to its opening rate at 1.1050. The pair remains in a low-volatility range just above the 1.10 support as the bullish Non-Farm Payrolls report didn’t change the underlying trend. The 200-day MA still lies ahead as resistance at 1.11 while the lower boundary of the declining trend channel provides support at 1.09, near the Brexit lows.
Our assessment: The pair trades without clear short-term direction in the middle of the trend channel with all eyes on the strong support at 1.10 and the resistance at 1.11.
