FxWirePro: EUR/USD regains upwards momentum after weaker-than-expected U.S. jobs data, 1.1300 a key barrier
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 …
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.
