EUR/USD: Dollar Rebounds as NFP Report Looms

EUR/USD is facing renewed selling pressure as the US dollar stages a recovery following its August decline. The greenback's rebound comes as markets position ahead of Friday's crucial Non-Farm Payrolls report, which could significantly impact Federal Reserve rate expectations. August saw the dollar weaken broadly, but early September trading suggests a potential trend reversal. Market participants are particularly focused on US labor market strength, with consensus expecting robust job gains that could support the Fed's hawkish stance. The euro faces its own challenges, with ECB officials signaling concern about eurozone growth prospects. Technical analysis shows EUR/USD testing key support levels established during August's rally. A strong NFP print could accelerate dollar gains and push EUR/USD toward 1.0800 support, while disappointing data might reignite the pair's upward momentum toward 1.1000 resistance.