EUR/USD Struggles To Bounce

The US dollar drops after an uptick in last month’s unemployment rate. Sentiment towards the euro grew a tad more bearish after it fell below 1.1850, the support of the recent consolidation range.

However, an RSI divergence suggests a loss in the downward momentum, and its double-dip into the oversold territory may make sellers reluctant to double down. Buyers will need to lift offers around 1.1880 before they could push for a reversal.

Below 1.1800, the pair would be heading towards the daily support at 1.1710 by default.

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