Dmytro Kharkov

Anton Kharitonov: U.S. job data bolsters euro resistance level

Anton Kharitonov: U.S. job data bolsters euro resistance level
@Kharitonov_TU: U.S. job data bolsters euro

Currency analyst Anton Kharitonov highlights the effect of recent US labor market data on the EUR/USD pair. The weaker than expected job numbers have allowed the euro to sustain its position above the 1.1600 support level, avoiding a potential decline to a lower range between 1.1550 and 1.1500.

In contrast, the currency pair is approaching a significant resistance zone at 1.1780-1.1830. Kharitonov suggests that this area might trigger the liquidation of long positions. Traders are advised to watch this level closely as it could indicate a turning point for EUR/USD positioning.

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