EUR/USD: NFP Looms As 1.1578 Support Faces Critical Test

MarketPulse by OANDA Group520 FollowersFollow5ShareSavePlay(4min)CommentsSummaryThe EUR/USD pair is under pressure, trading below 1.1600 due to geopolitical tensions (Middle East conflict, Iran leadership) and the ECB's "persistent uncertainty" which prevents the euro from decoupling from the US dollar's strength.The highly anticipated US Nonfarm Payrolls (NFP) report tomorrow is expected to cause significant volatility, with a strong reading cementing dollar dominance.The immediate future hinges on the 1.1578 support level. narvikk/iStock via Getty Images By Zain Vawda EUR/USD (EUR:USD) finds itself at a critical technical and fundamental juncture. After a volatile week defined by a "flight to safety," the pair has broken back below the psychological 1.1600 barrier. WhatThis article was written byMarketPulse by OANDA Group520 FollowersFollowMarketPulse is an award-winning industry analysis and news site service created by OANDA Business Information & Services, Inc. Covering forex, commodities, global indices and more, our goal is to give timely, relevant and informative commentary on major macroeconomic trends, technical analysis and worldwide events impacting the industry.