EUR/USD stays depressed post-Payrolls, around 1.0960

EUR/USD remained apathetic near 1.0960/50 on NFP.
US Nonfarm Payrolls came in at 225K in January.
Unemployment rate ticked higher to 3.6%.

Pablo Piovano FXStreet

The selling pressure around the European currency remains unaltered on Friday, with EUR/USD hovering around the 1.0960/50 region in the wake of US Payrolls figures.

EUR/USD offered on Payrolls

The spot keeps the familiar range after the US economy added 225K jobs in the first month of the year, bettering expectations and up from December’s 147K (revised from 145K).

Extra data showed the jobless rate increased to 3.6% and the key Average Hourly Earnings – a proxy for inflation via wages – expanded 0.2% MoM and 3.1% from a year earlier.

EUR/USD levels to watch

At the moment, the pair is losing 0.16% at 1.0964 and a breakdown of 1.0947 (weekly/2020 low Feb.7) would target 1.0879 (2019 low Oct.1) en route to 1.0569 (monthly low Apr.10 2017). On the upside, the next resistance lines up at 1.1000 (psychological mark) seconded by 1.1066 (100-day SMA) and finally 1.1094 (weekly high Jan.31).

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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