After gaining more than 1% in the previous week, EUR/USD started the new week with a bearish gap but managed to erase its losses.
EUR/USD fluctuates in a narrow range above 1.0800 on Monday. The pair could stretch higher once it clears 1.0840. The US economic calendar will not feature any high-tier data releases. In the European trading hours, the pair holds steady above 1.0800. The broad-based selling pressure surrounding the US Dollar allowed EUR/USD to extend its weekly rally on Friday.The Bureau of Labor Statistics reported that Nonfarm Payrolls rose 206,000 in June.
A daily close below this level could attract technical sellers and open the door for an extended correction toward 1.0760 . Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
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