The EUR/USD climbed 117 pips from Friday's bottom bids of 1.0482 to tap into the 1.0600 handle as Friday's US Non-Farm Payrolls (NFP) sends investors
EUR/USD catches a firm lift post-US NFP release, climbing 1.12% from the day's bottom. Broad-market flows have gone firmly risk-on following a bumper NFP reading for the USD. Euro traders will be looking ahead to Monday's investor confidence indicator for October. piling out of the US Dollar and back into risk assets to close out the trading week. The EUR/USD is now trading back slightly, testing the waters around 1.0580 as investors settle into the Friday close.
The Euro is set to close bullish against the US Dollar for the third straight trading day, but the pair remains steeply in bearish territory with daily candlesticks still trading far below the 200-day Simple Moving Average near 1.0825. A descending trendline from July's peak of 1.1275 remains the target to beat for bidders, and the 50-day SMA will pose an additional technical challenge as it confirms a bearish crossover of the longer moving average.
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