- EUR/USD keeps the strong footing near the 1.20 mark.
- US Non-farm Payrolls rose by just 49K jobs in January.
- The unemployment rate ticked lower to 6.7% from 13.3%.
The buying interest around the single currency remains well and sound at the end of the week and pushes EUR/USD back to the vicinity of the 1.20 hurdle in the wake of US NFP.
EUR/USD looks to regain 1.2000
EUR/USD keeps the positive stance on Friday after the US economy created 49K jobs at the beginning of the year, almost falling in line with consensus for a gain of 50K jobs. The December’s results was revised to a loss of 227K (from -140K).
Further data showed the jobless rate eased to 6.3% (from 6.7%) and the critical Average Hourly Earnings – a proxy for inflation via wages – rose 0.2% MoM and expanded 5.4% over the last twelve months.
EUR/USD levels to watch
At the moment, the index is gaining 0.31% at 1.1998 and a break above 1.2064 (38.2% Fibo of the November-January rally) would target 1.2115 (55-day SMA) en route to 1.2189 (weekly high Jan.22). On the downside, initial support is located at 1.1952 (2021 low Feb.4) seconded by 1.1887 (61.8% Fibo of the November-January rally) and finally 1.1688 (200-day SMA).
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