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

Latest Forex News

Editors’ Picks

GBP/USD surges toward 1.3150 amid upbeat UK data, USD weakness

GBP/USD has been extending its gains after the British CBI Trends figure beat expectations. Markets are pricing a BOE rate cut less aggressively. The US dollar is on the back foot across the board amid reduced coronavirus fears.

GBP/USD News

EUR/USD struggles to recover amid Trump's tariff threats

EUR/USD is trading below 1.11, close to the three-week lows, as President Trump continues threatening the EU with car tariffs. Markets remain concerned about the spreading coronavirus disease. 

EUR/USD News

BoC goes dovish, USD/CAD jumps above 1.31

In a widely expected decision, the Bank of Canada on Wednesday announced that it left its policy rate unchanged at 1.75% at its January policy meeting. In its policy statement, the BoC noted that it sees less risk of an extreme downside scenario related to trade tensions.

Read more

Gold Price Analysis: Intraday uptick falters near 50-hour SMA, remains vulnerable

Gold lacked any firm directional bias and seesawed between tepid gains/minor losses through the mid-European session on Wednesday.

Gold News

USD/JPY rises above 110.00, potential head-and-shoulders on 1H

Risk reset in stocks is boding well for USD/JPY.  The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures