The US dollar surged over fewer jobless claims last week. A fall below 1.0200 has weighed on sentiment, invalidating the latest bounce. The former support has turned into a resistance. The euro’s failure to hold above the previous consolidation area at 1.0120 suggests that the directional bias is still down. The RSI’s oversold condition may attract some bargain hunters, but buyers need to clear 1.0200 before the pair could get back on track. 1.0030 is the next support and a breach could trigger momentum selling below parity.
