EUR/USD pared its gains on board-based US dollar buying. It hit an intraday low of 1.13636 and currently trading around 1.13795.
Job vacancies in April 2025 rose to 7.391 million, according to the US Bureau of Labor Statistics, therefore exceeding both the market prediction of 7.1 million and the 7.2 million recorded the previous month. This rise points to a stronger-than-anticipated labor market and great demand for employees, thereby demonstrating ongoing economic resiliency. With exits at 3.2 million and layoffs/discharges at 1.8 million, hires and total separations remained somewhat constant at 5.6 million and 5.3 million, respectively. Generally, the JOLTS numbers imply that US businesses are actively recruiting and that the labor market is constantly strong.
Technical Analysis of EUR/USD
The pair is holding below the short and long-term moving average in the hourly chart. Near-term resistance is seen at 1.1365; a break above this may push the pair to targets of 1.14250/1.1500. Major bullish momentum is likely only if prices are able to break above the 1.160 target of 1.1660. On the downside, support is seen at 1.12650 any violation below will drag the pair to 1.1200/1.1150/1.1090/1.1050/1.100.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bearish
Average Directional Movement Index (ADX) - Neutral
It is good to sell on rallies around 1.13650 with a stop-loss at 1.1425 for a target price of 1.1150.
