EUR/USD tests highs beyond 1.1400 on Payrolls

The pair gains further ground and surpasses 1.1400.
The greenback stays offered below the 97.00 handle.
US November Non-farm Payrolls came in below expectations at 155K.

Pablo Piovano FXStreet

The bid tone is gathering steam around the euro on Friday and is now lifting EUR/USD to reach daily highs beyond 1.1400 the figure.
EUR/USD advances further post-NFP
The pair keeps gaining ground after the US economy created 155K jobs during November, missing estimates at 200K and down from October's 237K (revised from 250K). Additional data showed the unemployment stayed put at 3.7%.

Furthermore, the critical Average Hourly Earnings – a proxy for wage inflation – expanded at a monthly 0.2% and 3.1% over the last twelve months.

EUR/USD levels to watch

At the moment, the pair is up 0.27% at 1.1409 facing the next support at 1.1349 (21-day SMA) seconded by 1.1264 (low Nov.28) and finally 1.1214 (2018 low Nov.12). On the flip side, a breakout of 1.1421 (high Dec.4) would target 1.1434 (high Nov.22) en route to 1.1473 (high Nov.20).

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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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