TRENDING:

GBP/USD

XAU/USD

EUR/USD rises further above 1.0960 to one-week highs as USD Slides

The US dollar weakens across the board after the US official jobs report.
EUR/USD gains momentum after breaking above 1.0930.
The pair is heading for its highest weekly close since May.

Matías Salord FXStreet

The EUR/USD pair gained momentum amid a weaker US Dollar following the release of US employment data. After breaking above 1.0930, the Euro accelerated and climbed to the 1.0960 area, reaching the highest level in a week.

US Dollar down after NFP

Nonfarm Payrolls (NFP) in the US rose by 209,000 in June, below the market expectation of 225,000. May's increase of 339,000 was revised lower to 306,000. The unemployment rate edged lower to 3.6%. Despite the miss in job creation, the numbers continue to show a strong labor market.

Market continues to see a rate hike at the next FOMC meeting but expectations of a second hike before year-end have eased. Such repricing has kept US yields limited and, as a result, the US Dollar is falling by 0.75%, having the worst day in a week. US stocks are trading mixed, while commodity prices are up.

The EUR/USD is hovering above 1.0960, at the highest since June 27, with bullish momentum intact. It is holding onto weekly gains, above the 20-week Simple Moving Average. If the pair holds above 1.0960, attention would turn to the 1.1000 area and then the June high at 1.1012. On the contrary, a decline under 1.0930 would weaken the short-term outlook for the Euro.

Next week

No key reports are due from the Eurozone next week. The most relevant economic numbers will come from the US with the Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday. Inflation figures will be crucial ahead of the July 25-26 FOMC meeting.

Technical levels

EUR/USD

Overview
Today last price	1.0963
Today Daily Change	0.0075
Today Daily Change %	0.69
Today daily open	1.0888

Trends
Daily SMA20	1.0889
Daily SMA50	1.086
Daily SMA100	1.0826
Daily SMA200	1.0615

Levels
Previous Daily High	1.0901
Previous Daily Low	1.0834
Previous Weekly High	1.0977
Previous Weekly Low	1.0835
Previous Monthly High	1.1012
Previous Monthly Low	1.0662
Daily Fibonacci 38.2%	1.0875
Daily Fibonacci 61.8%	1.0859
Daily Pivot Point S1	1.0847
Daily Pivot Point S2	1.0807
Daily Pivot Point S3	1.078
Daily Pivot Point R1	1.0914
Daily Pivot Point R2	1.0941
Daily Pivot Point R3	1.0981

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD struggles to extend advance above 1.1800

The EUR/USD pair posts a fresh weekly low near 1.1740 during the Asian trading session on Wednesday. The major currency pair is under pressure as the US Dollar edges higher despite Federal Open Market Committee minutes of the December policy meeting, released on Tuesday, showing that most policymakers stressed the need for further interest rate cuts.

GBP/USD tests 1.3450 support after moving below nine-day EMA

GBP/USD remains subdued for the second consecutive day, trading around 1.3460 during the Asian hours on Wednesday. The technical analysis of the daily chart indicates a weakening of a bullish bias as the pair is positioned slightly below the lower boundary of the ascending channel pattern.

Gold jumps on US rate cut prospects, safe-haven demand

Gold price extends the rally above $4,350 during the early European trading hours on Wednesday. Gold's price has surged about 65% this year and is set to record its biggest annual gains since 1979. The rally in the precious metal is bolstered by the prospect of further US interest rate cuts in 2026. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal.

Bitcoin, Ethereum and XRP prepare for a potential New Year rebound

Bitcoin, Ethereum, and Ripple are holding steady on Wednesday after recording minor gains on the previous day. Technically, Bitcoin could extend gains within a triangle pattern while Ethereum and Ripple face critical overhead resistance.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).