November 26, 2022

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EUR/USD continues to flirt with drop below post-FOMC low

1 min read

EUR/USD down slightly to 1.1839

EUR/USD D1 02-07
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The technical picture will be a key consideration going into the payrolls release later today with EUR/USD flirting with a drop below the 18 June low @ 1.1847 as the low today touches 1.1839, with sellers continuing to eye a break towards the 1.1800 level.

The dollar seems to be adamant in holding firmer ground ahead of the jobs report later but keep in mind that there will be large chunks of expiries in EUR/USD from 1.1820 through to 1.1915 and that could keep things more sticky just above 1.1800.

In terms of sentiment, a lot will depend on what the jobs report offers later in the day so while sellers are testing the boundaries for now, it isn’t a given just yet.

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