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   “¢   US economy added only 20K new jobs in February, down from upwardly revised 311K previous.
   “¢   Unemployment rate drops to 3.8% and average hourly earnings also better market expectations.
   “¢   Upbeat US housing market data further extend some support to the USD and capped further gains.

The EUR/USD pair built on its steady intraday climb and spiked to fresh session tops, around the 1.1235-40 region on awful headline NFP print, albeit quickly retreated few pips thereafter.

The latest employment details showed that the US economy added only 20K new jobs in February, down from previous month’s upwardly revised reading of 311K and worse than consensus estimates pointing to 180K new jobs.

However, the disappointing reading, to a larger extent, was offset by a drop in the unemployment rate to 3.3% from 4.0% previous and stronger than expected wage growth data, showing that average hourly earnings rose 0.4% m/m and 3.4% y/y during the reported month.  

The readings were better than 0.3% m/m and 3.3% y/y rates expected, which coupled with better than expected US housing market data – building permits and housing starts, extended some support to the US Dollar and kept a lid on any runaway rally, at least for the time being.

Technical levels to watch


       Today Last Price:  1.1222
       Today Daily change:  40  pips
       Today Daily change %:  0.36%
       Today Daily Open:  1.1182
       Daily SMA20:  1.1323
       Daily SMA50:  1.1382
       Daily SMA100:  1.1378
       Daily SMA200:  1.1501
       Previous Daily High:  1.1322
       Previous Daily Low:  1.1176
       Previous Weekly High:  1.1422
       Previous Weekly Low:  1.1328
       Previous Monthly High:  1.1489
       Previous Monthly Low:  1.1234
       Daily Fibonacci 38.2%:  1.1232
       Daily Fibonacci 61.8%:  1.1266
       Daily Pivot Point S1:  1.1131
       Daily Pivot Point S2:  1.1081
       Daily Pivot Point S3:  1.0986
       Daily Pivot Point R1:  1.1277
       Daily Pivot Point R2:  1.1372
       Daily Pivot Point R3:  1.1422