EURUSD has shown minor recovery till 1.11137 after the release of US Non-farm-payroll. US economy has added 145k jobs in Dec vs forecast of 162k and the unemployment rate came at 5.6%. Average hourly earnings m/m at 0.1% vs estimate 0.3%. It is currently trading around 1.11820.
US 10-year yield has shown a dip of more than 1.5% on weak jobs data. It hits a low of 1.832% at the time of writing and currently trading around 1.842%. The spread between US and German 10-year yield has narrowed to 206 bps from 212 bps.
Technically near term important resistance is around 1.1130 and any indicative break above targets 1.11631/1.1180 Minot trend reversal only above 1.1245.
On the flip side, significant support stands around 1.1065 and the break beneath will drag the pair down till 1.1030/1.100.
It is good to buy on dips around 1.1105 with SL around 1.1065 for the TP of 1.1205.
