• EUR/USD falls to new lows after upbeat US jobs data.

  • Critical support develops near 1.0200.

EURUSD

EURUSD hit a new two-year low of 1.0200 in the aftermath of a stronger-than-expected nonfarm payrolls report, stirring up concerns that the pair could hit parity soon.

But the bulls may have one more chance to turn things around. The price is currently sitting at the 61.8% Fibonacci retracement of the 2022-2023 uptrend at 1.0200, and the support line from February 2024 is adding extra credence to the area. Note that the RSI and the stochastic oscillator are approaching their oversold levels, indicating that the recent decline may fade out soon.

Should selling interest strengthen, the price may initially test the 161.8% Fibonacci extension of the latest upturn at 1.0092 before it slumps to 1.0000 (parity). The 0.9900 mark could be the next major level of interest. 

In the event of an upside reversal, traders will be keeping an eye on the 20-day simple moving average (SMA) at 1.0370 and the 50% Fibonacci number at 1.0400. Running higher, the pair may instantly lose steam near the tentative resistance trendline at 1.0460, while a continuation above 1.0530 could challenge the area around the 38.2% Fibonacci of 1.0611. A sustainable move above the latter is required to officially violate the negative trend from September.

Summing up, EURUSD is still in a bearish trend with a potential for a pivot near the 1.0200 level. For a shift to a bullish short-term outlook, the pair must run sustainably beyond 1.0600.

Forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD tests daily lows near 1.0350 on NFP

EUR/USD tests daily lows near 1.0350 on NFP

The buying bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in January, dragging EUR/USD to the area of new lows near 1.0350.

EUR/USD News
GBP/USD flirts with daily lows near 1.2420, Dollar picks up pace

GBP/USD flirts with daily lows near 1.2420, Dollar picks up pace

The continuation of the rebound in the US Dollar motivates GBP/USD to accelerates its losses and revisit the 1.2420 area, or daily lows, following the release of US NFP in January.

GBP/USD News
Gold tests fresh lows near $2,860 after NFP

Gold tests fresh lows near $2,860 after NFP

Gold prices trim their early advance on Friday, deflating to the vicinity of the $2,860 region per ounce troy following the publication of the US labour market report in January.

Gold News
Key takeaways from the January Payrolls report

Key takeaways from the January Payrolls report

The January payrolls number was weaker than expected at 143k, vs a reading of 175k. However, to counteract the downside surprise in the NFP number, the unemployment rate fell to 4% from 4.1%, and average wage data jumped by 0.5% on the month, to 4.1%, the market had been looking for a decline to 3.8%.

Read more
Top Trumps: The global economy’s House of Cards

Top Trumps: The global economy’s House of Cards

The year has barely started and we are learning the hard way what Donald Trump’s second term in office means for markets, analysts and global policymakers. It's like living through an episode of the political thriller, House of Cards.

Read more
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

Majors

Cryptocurrencies

Signatures

Best Brokers of 2025