• US Dollar stays relatively resilient against its major rivals on Thursday.
• EUR/USD technical outlook remains bullish but there is a loss of momentum.
• Nonfarm Payrolls report for March could significantly influence US Dollar’s valuation.

The US Dollar (USD) manages to hold its ground in the second half of the week after having suffered heavy losses against its major rivals earlier. The USD seems to be finding demand as a safe haven as investors grow increasingly concerned about the United States (US) economy tipping into recession. Nonfarm Payrolls (NFP) report for March, which will be released on Friday, could influence the market positioning regarding the US Federal Reserve’s next policy step and impact the USD’s performance.

The US Dollar Index, which gauges the USD’s valuation against a basket of six currencies, holds steady at around 102.00 after having touched its weakest level since early February below 101.50 early Wednesday.