Major resistance - 1.1000
EURUSD recovers slightly till 1.09965 and started to decline sharply on mixed US Non-Farm payroll. It has added 136000 jobs in Sep slightly below forecast of 145000, the unemployment rate came at 3.5% vs estimate of 3.7%. The average hourly earnings at 0.0% much below expectations. US 10-year bond yield rose more than 2% after the data. It hits an intraday low of 1.09571 and is currently trading around 1.09606.
Technically, near term strong resistance is around 1.1000 and any break above will take the pair to next level till 1.10300. Major trend reversal only if it violates 1.1030.
On the downside, low formed on Oct 1st, 2019 at 1.08790 will be acting as temporary bottom and any violation below will drag the pair till 1.0830/1.0800.
It is good to sell on rallies around 1.0970-725 with SL around 1.1000 for the TP of 1.08800.
