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ECB Hikes, Euro Dives: EURUSD Bears Reload for a Run to 1.1400 
EURUSD recovered slightly after a decline till 1.12556 at the time of writing. The pair was trading a narrow range of 1.13220 and 1.12558 ahead of US Non-Farm payroll data.
The pair declines till 1.12325after the release of better than expected US jobs data.
|
US |
Actual |
Forecast |
Previous |
|
Non-Farm Employment Change |
224K |
162K |
75K |
|
Unemployment rate |
3.70% |
3.60% |
3.60% |
|
Average hourly earnings m/m |
0.20% |
0.30% |
0.20% |
On the flip side, the pair is trading below 100- day Ma at 1.126000 and this confirms major weakness and a decline till 1.11800 is possible.
The near term major resistance is around 1.13200 and any violation above will take the pair to next level till 1.1360/1.1400.
It is good to sell on rallies around 1.1255-60 with SL around 1.1300 for the TP of 1.11800.
