EUR/USD nears 0.9850 before EMU CPI

The weekly rebound in the EUR/USD continues as it returns to the 0.9850 area. The September labor market statistics from Germany pleasantly pleased. The next important item on the euro schedule is the EMU Flash Inflation Rate.

The euro’s prospects are still bright for another session, and on Friday, the EUR/USD pair reaches new highs in the mid-0.9800s.

On Friday, the EUR/USD increases for the third session in a row, extending the recovery from the recent 20-year lows at 0.9530 (September 28), always against the background of the dollar’s continued and robust corrective downturn.

In fact, the continued technical retracement and sharp improvement in the risk complex put more pressure on the dollar, which continues correcting lower and finally gives the pair more legs.

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EDGE-FOREX 

 

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