EUR/USD drops to daily lows post-Payrolls, around 1.1070


  • EUR/USD moves lower and tests daily lows.
  • US Non-farm Payrolls came in at 266K in November.
  • The unemployment rate came in at 3.5%.

The selling interest around the single currency is now picking up pace and is forcing EUR/USD to drop to session lows around 1.1070.

EUR/USD offered on Payrolls

The pair gives away further ground on Friday after the US economy created 266K jobs during last November, surpassing expectations at 183K and up from October's 156K (revised from 128K).

Further data showed the jobless rate ticked lower to 3.5% and the critical Average Hourly Earnings – a proxy for inflation via wages – expanded 0.2% MoM and 3.1% over the last twelve months.

EUR/USD levels to watch

At the moment, the pair is losing 0.25% at 1.1076 and faces the next hurdle at 1.1116 (monthly high Dec.4) seconded by 1.1157 (200-day SMA) and finally 1.1179 (monthly high Oct.21). On the other hand, a breakdown of 1.1066 (100-day SMA) would target 1.1041 (55-day SMA) en route to 1.0989 (monthly low Nov.14).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD recaptures 1.18 amid uncertainty about US fiscal boost

EUR/USD is trading around 1.18, holding onto its recovery. Uncertainty about the next US fiscal relief package, coronavirus, and the economy are weighing on the dollar again. 

EUR/USD News

GBP/USD bounces off the lows amid market calm

GBP/USD is trading closer to 1.31 as investors are hopeful for progress in Brexit talks and are less concerned about a lockdown in London. The US dollar is giving some ground.

GBP/USD News

XAU/USD bull-bear tug-of-war extends around $1975

XAU/USD sidelined heading into the European session. Downside limited by dollar weakness, coronavirus concerns. Focus remains on the USD dynamics and the United States/China updates.

Gold News

What you need to know about trading in August

The generally received wisdom is that summer is a quiet month for trading. Traders are on holiday and markets quieten down. That’s the expectation among many. However, the reality is that August can be one of the most volatile trading months of the year.

Read more

WTI: Bulls await API data to attack $41.00

WTI struggles to extend recovery moves from $40.74 beyond $41.00. Virus woes join OPEC output increase to combat drop in Russian oil production. US Factory Orders, API inventories will be the key.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures