The EUR/USD pair is seen oscillating in a narrow trading band during the Asian session on Friday and consolidating its recovery gains registered over
EUR/USD struggles to gain any meaningful traction on Friday and oscillates in a narrow band. The technical setup seems tilted in favour of bears and supports prospects for further decline. Traders now await the release of the key US NFP report before placing fresh directional bets. the past two days, from mid-1.0400s or the YTD low touched earlier this week. Spot prices currently trade just below the 1.
Meanwhile, any positive reaction to a disappointment from the US jobs data could lift spot prices beyond the 1.0600 round-figure mark. The momentum could get extended, though is more likely to remain capped near the top boundary of the aforementioned channel, currently around mid-1.0600s. The latter should act as a key pivotal point, which if cleared will suggest that the EUR/USD pair has formed a nea-term bottom and shift the bias in favour of bulls. On the flip side, the 1.
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