The EUR/USD pair is stabilizing after a week marked by persistent selling pressure, as investors shift focus to upcoming economic data. Following an earlier dip to multi-week lows, the currency pair found support near 1.0650, suggesting traders may be hesitant to extend bearish bets before the weekend. Analysts cite a blend of oversold conditions and market caution as reasons for the temporary respite.
Source – FXStreet
The U.S. dollar’s recent strength, driven by upbeat economic indicators, remains a central theme. However, market participants are eyeing upcoming eurozone inflation figures and U.S. labor data for fresh direction. While the dollar retains a bullish edge, a surprise in these releases could alter the sentiment, leaving room for a potential rebound in the euro-dollar exchange rate next week.
By adopting a wait-and-see approach, traders seem poised to reassess their positions, signaling a potentially pivotal moment for the EUR/USD trajectory.
