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fxAug 6, 2026, 3:17 AM

EUR/USD Eyes Break Above 1.1600 on US Dollar Weakness

The Euro holds firm near 1.1555 against the Dollar, with forecasts pointing to a potential extension beyond the 1.1600 mark. Broad greenback softness amid deteriorating US employment data underpins the pair's advance.

EURUSD

The Euro is trading around 1.1555 versus the US Dollar during Asian hours on Thursday, reflecting sustained strength. The pair remains bid as the Dollar comes under broad pressure.

Selling in the greenback is linked to a weakening US labor market, with recent employment data pointing to deteriorating conditions. This has boosted expectations for a potential slowdown in the Federal Reserve's tightening cycle.

Technical forecasts now see EUR/USD setting up for an extension above the 1.1600 handle should the supportive fundamentals persist.

Source: FXStreet Forex News