EUR/USD - Review from 03.10.2024
Published on 03.10.2024 11:10

During its decline, the EUR/USD pair reached the 1.1000-1.1020 range we'd previously considered a potential support. In case of a renewed growth, the aim could be a return to the middle of the range, closer to the 1.1100 level. The pair could possibly rise from the support range or following a renewal of the local minimum around the 1.1000 mark. However, we need to take into account the news releases over the remaining two working days of the week. In particular, this applies to the US labor market data. If the release of this data triggers an expectation of harsher policy from the US Federal Reserve, it could serve as a trigger for the EUR/USD pair to reach new lows and further decline.