Euro/dollar rebounds, but outlook remains bearish
From a technical standpoint, euro/dollar tumbled on Friday following the better-than-expected NFP report, breaking below the 1.1585 barrier and hitting support near the 1.1505 zone. Although the pair is now recovering, the short-term outlook remains negative.


Even if the rebound stretches a bit more, the bears could re-charge from near the 1.1585 zone and shoot for another text near 1.1505. A break lower could set the stage for declines towards the 1.1445 area, marked by the lows of March 30 and 31.