EURUSD recovered more than 50 pips after US Non farm payroll. The pair hits intraday high of 1.14858 and is currently trading around 1.14793.
US economy has added 304000 jobs in month of Dec compared to forecast of 167k.Average earnings is at 0.1% MOM and 3.2% YOY slightly weaker than expected.
Technically pair has formed a triple bottom near 1.12670 and once again jumped sharply.EURUSD upside capped by trend line resistance around 1.15200 (trend line joining 1.1813 and 1.15697) and break above this confirms bullish continuation .A jump till 1.1580 (200- day MA)/1.15920 (300-day EMA).The near term major resistance 1.1450 (100-day MA).
On the lowerside, near term support is around 1.1410 (55- day EMA) and any violation below targets 1.1400/1.1387 (50- day MA)/1.1345/1.1300. The pair should break below 1.12670 for further weakness.
It is good to buy on dips around 1.1465 with SL around 1.1405 for the TP of 1.15800.
