Summary:EUR/USD holds near 1.1555 as the euro retains much of its recent advance against the US Dollar. Eurozone Sentix Investor Confidence jumped to +0.9 in August from -3.1, returning to positive territory and adding to signs of improving sentiment across the bloc.
Euro: Fed repricing supports gains against US Dollar – Societe Generale
The Euro managed to hit a few pips above the resistance of 1.1560 which could lead to another advance. As we see from the chart, prices face support around 1.1470-80 while as long as the market holds above it, the advance may could continue towards 1.1685 and above.
Weak U.S. payrolls pressure the dollar as markets turn to July CPI for fresh Fed clues, while EUR/USD and GBP/USD test major resistance.
Euro: Weak US jobs lift EUR against US Dollar on Fed repricing – Danske Bank
EUR/USD Price Forecast: Eyes further upside towards 1.1620
Looking at the 4-hour chart, the pair gained pace for a move toward 1.1580. A high was formed at 1.1581, and the pair is now consolidating gains above the 23.6% Fib retracement level of the upward move from the 1.1352 swing low to the 1.1581 high.
EUR/USD strengthens further as buyers press their advantage
It's rare that the Euro isn't the major driver of the Dollar basket, because after all, it is a whopping 57.6% component of DXY. But the reality is sentiment matters, as does positioning, and if we're seeing that massive carry trade in USD/JPY unwind with USD selling and JPY gaining, well even the larger major pair of EUR/USD can be impacted.
EUR/USD Price Forecast: Buyers eye a break above the 100-day SMA
EUR/USD has extended its recovery from the yearly low after last week's outside-week reversal triggered a decisive breakout from the July consolidation range. The rally has now reached the first major resistance zone since the June decline began, making this an important test of whether buyers can sustain the improving technical backdrop.
EUR/USD Weekly Forecast: US inflation and war doldrums to keep shaping market's mood