At mid-day on Thursday, the pair traded between the two zones at 1.0080/1.0090 and 0.9970/0.9980.
Economic Calendar Analysis
On Thursday, at 14:00 GMT, the US ISM Manufacturing Purchasing Managers Index could cause a market adjustment.
The top event of the week is scheduled for Friday, at 12:30 GMT. At that time, the US Unemployment Rate, Non-farm Employment Change and the Average Hourly Earnings are set to be published.
EUR/USD hourly chart
In the case of a decline below 0.9970/0.9980, the currency pair might look for support in the August low level zone at 0.9900/0.9915. Below the month's low levels, the weekly S1 simple pivot point at 0.9878 might stop a decline.However, a potential recovery and move above 1.0080/1.0090 would face resistance at 1.0097, 1.0100, 1.0123 and 1.0142. These levels have acted as support and resistance during early August trading.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the decline of the EUR/USD has passed the July low level. Further below, the currency rate might look for support in the lower trend line of the channel down pattern.In the meantime, the resistance of the 50-day simple moving average has moved below the 1.0200 mark.
Daily chart
Read More: Technical Analysis
Traders are long
On Wednesday, on the Swiss Foreign Exchange, trader open positions were bullish, as 66% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to sell the Euro against the USD.
On Thursday, traders were 65% long and orders were 55% to sell.