FxWirePro: EUR/USD regains upwards momentum after weaker-than-expected U.S. jobs data, 1.1300 a key barrier
Friday, June 2, 2017 1:51 PM UTC
- The EUR/USD pair rose higher on Friday as dollar attracted sellers after data showed the U.S. economy created fewer jobs than expected last month.
- Data showed that U.S. nonfarm payrolls increased just 138,000 last month as the manufacturing, government and retail sectors lost jobs, while the consensus forecast was for 185,000 new jobs.
- The euro was 0.5 percent higher against the dollar to $1.1267, after earlier rising to a seven-month peak of $1.1282.
- The currency pair, remains under bulls control unless until it trades above 1.1200 support level, therefore it is good to buy this pair on dips.
- To the upside, the immediate resistance can be seen at 1.1274, a break above this level would expose the pair to next resistance level at 1.1300.
- To the downside, immediate support can be seen at 1.1239, a break below at this level will open the door towards next level at 1.1200.
Resistance Levels
R1: 1.1274 (38.2 % Retracement level)
R2: 1.1300 (Psychological levels)
R3: 1.1320 (23.6 % Retracement level)
Support Levels
S1: 1.1239 (50% Retracement level)
S2: 1.1200 (61.8 % Retracement level)
S3: 1.1159 (May 31st lows)