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fxJul 2, 2026, 4:34 AM

EUR/USD Approaches 1.1400 as Bearish Flag Persists

The EUR/USD pair edged higher in Asian trading on Thursday but remains near weekly lows as traders await the US Nonfarm Payrolls report. A bearish flag pattern keeps downside risks alive.

EURUSD

EUR/USD crept higher during Thursday's Asian session, trading near 1.1385, though the move lacked bullish conviction. The pair remains close to the weekly low set earlier, with the focus squarely on the upcoming US Nonfarm Payrolls (NFP) report due later this week.

Technical analysis highlights a bearish flag formation on the daily chart, suggesting that any bounce may be short-lived and that sellers could re-enter if the 1.1400 area caps upside attempts. A break below this week's low would likely accelerate losses toward the 1.1300 handle.

Traders are cautious ahead of the NFP data, which could provide fresh cues on the US labor market and influence Federal Reserve policy expectations, thereby driving the next directional move in EUR/USD.

Source: FXStreet Forex News