On Thursday morning, the pair was testing the resistance of the weekly R1 at 0.9925 and was finding support in the 0.9900 level.
Economic Calendar Analysis
Above all, on Friday, the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to move the markets.
EUR/USD hourly chart
A move above 0.9925 would once again result in a test of the 1.0000 mark. Above 1.0000 the pair could encounter resistance in the combination of the weekly R2 simple pivot point at 1.0048 and the 1.0050 level. Higher above, take into account the 1.0100, 1.0150 and 1.0200 levels.On the other hand, a decline of the Euro against the US Dollar is set to look for support in the 0.9865/0.9875 zone and the 100-hour simple moving average. Further below, note the 0.9850 and 0.9800 levels.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has broken the resistance of the August and early September low level zone at 0.9860/0.9900. The surge eventually stopped at the upper trend line of the 2022 channel down pattern and the 50-day simple moving average.Daily chart
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Traders are long
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 57% to sell the Euro against the USD.
On Thursday, traders were 61% long and pending orders were 58% to sell.