NFP Bombshell Crushes EUR/USD Bulls: Dollar on Fire as Pair Teeters Near 1.15

EUR/USD gained slightly after upbeat US jobs data. It hits an intraday low of 1.15025 and is currently trading around 1.15271.  The intraday trend remains bullish as long as the support at 1.14650 holds. 

September 2025 Released at last on November 20, nonfarm payrolls delivered a great upward surprise: 119,000 jobs added versus a consensus of just 50,000, more than doubling expectations and shattering August's dismal 22,000 print, with gains mostly driven by healthcare (+43K) and food services (+37K) despite ongoing decreases in federal employment and transportation. From 4.3%, the unemployment rate climbed to 4.4%; wage growth slowed to +0.2% MoM (missing 0.3%); and participation remained constant, painting a resilient-but-cooling labor market that refuses to collapse. The spectacular headline beat alleviates recession worries, reinforces the soft-landing narrative, and considerably lowers the likelihood of aggressive Fed rate cuts in December, therefore driving the dollar and yields up.

The pair is holding below the 55 EMA, 200 EMA, and 365 EMA in the 4-hour chart. Near-term resistance is seen at 1.1545, a break above this may push the pair to targets of  1.16000/1.1660/1.1700/1.1765/1800/1.1835/1.1850/1.1920. On the downside, support is seen at 1.1500; any violation below will drag the pair to 1.1435/1.1400.

Market Indicators and Trading Strategy

Commodity Channel Index (CCI)-  Bearish

Average Directional Movement Index (ADX) - Bearish

 It is good to buy on dips around 1.1500 with a stop-loss at 1.14650 for a target price of 1.1660.