EUR/USD surged more than 100 pips after dismal US jobs data. It hit an intraday high of 1.15581 and is currently trading around 1.15574. Overall trend remains bullish as long as support 1.1500 holds.
With only 73,000 jobs added—much below projections and representing the poorest job creation in almost two years—the American labor market slowed significantly in July 2025. This slowdown, together with a modest increase in the unemployment rate to 4. 2%, indicates a decline in demand for labor. Although average hourly earnings rose as predicted, suggesting little real-income rise free of fresh inflationary worries, the whole picture points to companies cutting back on recruiting as a result of continuing uncertainty. Though the report points to a rebalancing rather than a job market catastrophe, this obvious shift in momentum apparent over revised prior figures and several industries stresses the Federal Reserve to think about softening of monetary policy if the cooling trend continues.
The pair is holding above the 55 EMA, 200 EMA, and 365 EMA in the 4 -hour chart. Near-term resistance is seen at 1.1600, a break above this may push the pair to targets of 1.1660/1.1748/1.1778. On the downside, support is seen at 1.1500; any violation below will drag the pair to 1.1435/1.1378/1.1360/1.1300/1.12300.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Neutral
Average Directional Movement Index (ADX) - Bearish
It is good to buy on dips around 1.1528-30 with a stop-loss at 1.1480 for a target price of 1.1660.


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