US Jobs Report

AUD/USD has climbed to its highest level since June 17 as markets reassess the outlook for Australian and US interest rates. Traders are watching whether RBA caution and softer US labor data can keep momentum pointed toward 0.7150.

EUR/USD is attempting a short-term recovery, but the broader technical structure remains tilted toward sellers while the pair holds below its descending trendline. Traders are watching Federal Reserve minutes, Fibonacci resistance near 1.1435, 1.1470 and 1.1500, and support around 1.1400, 1.1360 and 1.1290.

EUR/USD has recovered from its June low, but technical traders continue to watch bearish continuation signals below the 50-day EMA. This week’s Federal Reserve and European Central Bank minutes may shape near-term volatility as markets reassess jobs weakness, inflation pressure, and rate expectations.

Weak June payrolls reduced expectations for a July Federal Reserve rate increase, but overtime, temporary hiring and wage signals kept traders from fully pricing out later tightening. The US dollar remains under near-term pressure while EURUSD reacts to shifting Fed and ECB expectations.