EUR/USD Price Analysis: Key resistance lies at the parity zone

Market news

7 October 2022

EUR/USD Price Analysis: Key resistance lies at the parity zone

EUR/USD wobbles around the 0.9800 zone ahead of NFP.
Bullish attempts face a tough barrier at the parity level.

EUR/USD gyrates around the 0.9800 region ahead of the release of US Nonfarm Payrolls on Friday.

The resumption of the buying interest is expected to meet a solid hurdle at recent peaks around the parity zone. Ideally, EUR/USD should leave behind this key resistance zone in the near term to allow for the continuation of the rebound.

In the longer run, the pair’s bearish view should remain unaltered while below the 200-day SMA at 1.0616.

EUR/USD daily chart

Currencies. Daily history for Friday, October 7, 2022

Commodities. Daily history for Thursday, October 6, 2022

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