EUR/USD in Fresh Tops Post-NFP

EUR/USD in Fresh Tops Post-NFP

3 June 2016, 14:38
Roberto Jacobs
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EUR/USD in Fresh Tops Post-NFP

The common currency has seen its upside accelerated today, lifting EUR/USD to print fresh daily peaks above 1.1200.

EUR/USD stronger on poor Payrolls

The pair intensifies its weekly upside after today’s Non-farm Payrolls showed the US economy has added 38K jobs during May, missing forecasts for 164K gain and down from April’s 123K (revised from 160K).

In addition, the US unemployment rate has ticked lower to 4.7%, bettering expectations. Later in the session, US Factory Orders and the ISM Non-manufacturing will keep the attention on the buck.

EUR/USD levels to watch

The pair is now advancing 0.73 at 1.1234 and a break below 1.1096 (low May 30) would open the door to 1.1055 (low Mar.16) and then 1.0820 (low Mar.10). On the other hand, the initial hurdle aligns at 1.1246 (high May 23) and then 1.1298 (55-day sma).

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