EURUSD

Following the ECB's 25 basis point interest rate cut, attention has turned to U.S. employment data. Non-farm payrolls, the unemployment rate, and average hourly earnings will play a decisive role at critical levels for the Dollar Index. A clearer struggle between short-term sellers and medium-term buyers necessitates a thorough examination of the potential for EURUSD to reach psychological levels such as 1.10 and GBPUSD to reach 1.30. Particularly, if the March employment data exceeds expectations, it raises the notion that the recent upward trend may pause.

For the EURUSD pair, the 1.0680 level stands out as a significant support point. If the pair manages to stay above this level, it could increase the potential for movement towards 1.0820, 1.0860, and 1.0900. The condition of the 1.0820 level will provide clues on whether a new reaction towards the 1.0935 peak in November 2024 will occur. In the event of downward pressure, the 1.0680 support is critical; if this area is breached, it should be considered that the trend may continue down to the 1.0570 level.