The EUR/USD currency pair retreated on Thursday, ending its two-day winning streak as the US Dollar showed signs of stabilization. According to FX Street, the pair traded around 1.1534, marking a decline of 0.15% for the day.
Despite the recent dip, EUR/USD remains above the key 100-day simple moving average (SMA), though the pair has not breached the 1.1400 level since late July. This suggests that while some downward pressure exists, broader support levels are still intact.
For Japanese investors, movements in EUR/USD are significant given the yen’s usual correlation with the dollar and euro, impacting cross-currency strategies in FX and broader market sentiment.