EUR/USD (current price: 1.1067)
The pair turned higher yet again on Friday, although it gave all of its gains today in early trading, as the Dollar continues to be sensitive to election-related news before tomorrow’s referendum. The U.S. Non-Farm Payrolls report showed a monthly gain of 161,000 jobs compared to the consensus estimate of 174,000. The report didn’t change the underlying trend in the pair, as the Euro got slightly stronger, despite the negative surprises in the Services PMIs in the Eurozone, with only the German number being in line with expectations.
Our assessment: The pair continued to trade in a rising short-term trend channel right around the 1.1085 support/resistance zone, still within a long-term neutral range following the FED meeting last week.
