EUR/USD surrender gains post-NFP

EUR/USD surrender gains post-NFP

1 April 2016, 14:35
Vasilii Apostolidi

EUR/USD is reverting the initial upbeat tone and has briefly returned below the 1.1400 handle following US Non-farm Payrolls.

EUR/USD stronger on US data

The pair has seen its gains trimmed after today’s US Payrolls showed the economy has created 215K jobs during March, surpassing estimates at 205K albeit down from February’s 245K (revised from 242K). The unemployment rate ticked higher to 5.0%, below market consensus.

Further data saw Average Hourly Earnings rising 0.3% on a monthly basis and the Participation Rate at 63.0%.

EUR/USD levels to watch

The pair is now up 0.27% at 1.1412 facing the next resistance at 1.1496 (monthly high Oct.15 2015) ahead of 1.1713 (high Aug.24 2015). On the downside, a break below 1.1198 (20-day sma) would target 1.1142 (low Mar.24) en route to 1.1043 (200-day sma).

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