- EUR/USD loses further the grip, approaches 1.1130.
- US Non-farm Payrolls came in at 128K in October.
- US ISM Manufacturing next of relevance in the docket.
The selling interest around the single currency is now gathering extra pace and is motivating EUR/USD to recede further and trade in the area of 1.1130.
EUR/USD offered on Payrolls, looks to ISM now
The pair is losing extra ground on Friday after the US economy created 128K jobs during last month, beating expectations at 85K and up from September’s 180K (revised from 136K).
Further data showed the jobless rate ticked higher to 3.6% from multi-decade low at 3.5% and the critical Average Hourly Earnings – a proxy for inflation via wages – expanded 0.2% MoM and 3.0% over the last twelve months.
EUR/USD levels to watch
At the moment, the pair is losing 0.17% at 1.1132 and faces the next up barrier at 1.1179 (monthly high Oct.21) seconded by 1.1186 (61.8% Fibo of the 2017-2018 rally) and finally 1.1196 (200-day SMA). On the downside, a breakdown of 1.1072 (low Oct.25) would target 1.1043 (55-day SMA) en route to 1.0925 (low Sep.3).
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