EURUSD has shown a minor decline after strong US Nonfarm payroll data. US economy has added 273000 in Feb vs forecast 175000, unemployment rate at 3.5% vs3.6% and average hourly earnings month on month at 0.3% vs 0.3% expected. The pair hits an intraday high of 1.13549 and is currently trading around 1.13253.
US 10-year continues to trade lower and declined more than 20% to 0.657%. The spread between US 10 and 2-year yield has narrowed to 26.7 bps to 37 bps.
Technically, near-term support is at 1.12800 and any violation beneath will drag the pair to the next level till 1.1230/1.1200.
On the higher side, significant resistance is around 1.1360 and indicative break above targets 1.1385/1.1400.
It is good to buy on dips around 1.1290-925 with SL around 1.1260 for the TP of 1.1400.
