- The pair trims gains and tests 1.1430 on US NFP.
- The greenback leaves session lows and gathers some traction.
- US Non-farm Payrolls came in above expectations at 250K.
After clinching fresh tops in the 1.1450/60 band, EUR/USD has now receded to the boundaries of 1.1430 on better-than-expected Payrolls results.
EUR/USD remains bid following Payrolls
Despite the knee-jerk from daily highs, the pair remains bid after US economy created 250K jobs during October, surpassing consensus at 193K and up from September’s 118K (revised from 134K). 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, both prints in line with forecasts.
EUR/USD levels to watch
At the moment, the pair is up 0.19% at 1.1430 facing the next hurdle at 1.1466 (21-day SMA) seconded by 1.1508 (low May 29) and finally 1.1550 (high Oct.22). On the other hand, a break below 1.1398 (10-day SMA) would target 1.1334 (low Oct.26) en route to 1.1316 (200-week SMA).
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