By the middle of Thursday's European trading hours, the pair had recovered and was once again testing the resistance of the 1.0200 level, the weekly simple pivot point at 1.0193 and the 200-hour simple moving average.
Economic Calendar Analysis
On Friday, one of the top events of the month will take place. At 12:30 GMT, the US employment data sets are scheduled to be released. The release will consist of the US Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate.
EUR/USD hourly chart
A move above 1.0200 could encounter resistance in the 100-hour simple moving average near 1.0205. Higher above, the 1.0220, 1.0240 and 1.0260 levels might slow down a potential surge, prior to the rate reaching the 1.0300 mark.On the other hand, a decline of the pair is expected to find support in the 1.0160 level, before reaching the weekly S1 simple pivot point at 1.0128 and the 1.0125 level.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the currency exchange rate appears to be heading to the zone, which captures the previous low levels at 1.0350/1.0400.Daily chart
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Traders are long on EUR/USD
On Wednesday, on the Swiss Foreign Exchange, trader open positions were bullish, as 61% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 50% to buy and sell the Euro against the USD.
On Thursday, traders were 64% long and orders were 52% to sell.