The February's U.S. jobs report is poised to inject a considerable amount of volatility into financial markets and may play a pivotal role in shaping the near-term trajectory of the U.S. dollar.
Want to know where the U.S. dollar is headed over the medium term? Explore key insights in our quarterly forecast.
On the flip side, if sellers unexpectedly mount a resurgence and drive the exchange rate lower swiftly, the first technical floor to monitor emerges around the psychological 1.0900 mark. Below this area, confluence support at 1.0850 will become the next key focus, followed by 1.0790.USD/JPY extended losses on Thursday, plummeting towards cluster support ranging from 147.85 to 147.50.
GBP/USD blasted higher on Thursday after taking out trendline resistance around 1.2715 in the previous session. If this breakout is sustained in the coming days, bulls could soon challenge the next major technical ceiling near 1.2830. Further bullish progress beyond this barrier will shine a light on 1.3000.
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