EURUSD has pared more than 70 pips from the high of 1.15495 made on Friday. US economy has added 134K jobs compared to forecast of 185k but unemployment rate came at 48 year low.
US 10 year yield is continuing to trade higher and hits fresh mulitiyear high at 3.24%. Technically, pair is facing strong resistance at 1.1550 (7- day MA) and any break above targets 1.1600/1.1635/1.1660. It should break above 1.1720 for further direction.
On the lower side, near term support is around 1.1460 and any break below will drag the pair down till 1.138/1.1330. Any break below 1.1460 confirms further weakness.
It is good to sell on rallies around 1.1505-10 with SL around 1.1550 for the TP of 1.1400/1.13300.
