EUR/USD rose 1.5% last week and touched its highest level since mid-September near 1.
EUR/USD has gone into a consolidation phase following last week's upsurge. Immediate resistance for the pair is located at 1.0750. The near-term technical outlook points to overbought conditions. 0750 on Friday as the US Dollar remained under selling pressure. The pair fluctuates in a tight channel above 1.0700 early Monday. The economic docket will not offer any high-tier data releases and the technical outlook points to overbought conditions.
For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . The USD suffered heavy losses ahead of the weekend as the October jobs report unveiled loosening conditions in the labor market. Nonfarm Payrolls rose by 150,000, less than the market expectation of 180,000, and the Unemployment Rate edged higher to 3.9% from 3.8% in September.
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