The EUR/USD pair traded within a tight range overnight, moving between 1.1359 and 1.1387, as it remains positioned for a third consecutive weekly decline. According to FX Street (Societe Generale), the pair’s recent dip found support near the 100-week moving average at 1.1356, with oversold technical conditions suggesting that the current correction might be nearing its end.
On Friday, the US Dollar paused after a strong rally earlier in the week, allowing the Euro to regain some ground. Despite this rebound, the pair is still on track for its third weekly fall, pressured by the Federal Reserve’s continued hawkish stance that keeps upward pressure on the dollar.
Japanese investors should note the ongoing dollar strength and its impact on currency pairs like EUR/USD, which could influence FX strategies amid global central bank tightening cycles.