- EUR/USD neutral/bullish bias remains in place despite the dip caused by the NFP.
- The level to beat for buyers is the 1.1063 resistance.
EUR/USD weekly chart
The euro is trading in a weak bear trend below its main weekly simple moving averages (WMAs). The market has been holding above the 1.1000 handle for eight consecutive weeks, reinforcing the bull case.
EUR/USD daily chart
EUR/USD, on the daily time frame, is trading below the 200-day simple moving average (DMA). However, in December, the market had a significant bullish reversal. The bears will likely need to have a daily close below the 1.1000 handle in order to restore a clear bearish bias.