FX:EURUSD is declining and testing the local minimum on the background of strengthening of the dollar. The price is retesting MA-200, which only increases the chances of further decline.
Today, at 13:30 GMT we will meet the NFP data, to which the market reacts quite strongly. In general, analysts expect an improvement for the dollar, as 180K is expected relative to the previous 150K. After the publication of yesterday's Initial Jobless Claims, the reality is closer that the market could see NFP 180K, if not more, as the overall market situation is improving and the fundamentals support this. EURUSD may react with a fall to the possible strengthening of the dollar, but before the fall the price may test a local high, for example 1.08170. Overall, the chart clearly shows the approximate potential. A false breakdown of resistance of the ascending channel opens the possibility to see a sell-off towards trend support.
Support levels: 1.0760 Resistance levels: 1.0800, 1.08170, channel resistance
In general, bullish news is expected for the US market, which may weaken the euro and the currency pair may fall. But this is news and no one knows in advance what can happen, we only try to see the scenario with a higher chance of realization