- The pair stayed apathetic near the 1.11 mark on mixed Payrolls.
- The greenback holds on near 98.20 following July’s labour market report.
- US Non-farm Payrolls came in below expectations at 148K.
The bid tone around the euro remains firm on Friday and is now taking EUR/USD bak to the 1.1100 neighbourhood.
EUR/USD stays bid on NFP
The pair is extebnding the recovery after the US economy created 148K jobs during July, missing estimates at 169K and down from June’s 179K (revised from 191K). Additional data showed the unemployment stayed put at 3.7%, matching forecasts.
Additionally, the critical Average Hourly Earnings – a proxy for wage inflation – expanded at a monthly 0.3% and 3.2% from a year ealier, both prints surpassing initial estimates.
EUR/USD levels to watch
At the moment, the pair is advancing 0.18% at 1.1103 and a breakout of 1.1115 (high Aug.2) would target 1.1187 (21-day SMA) en route to 1.1229 (55-day SMA). On the flip side, the next support emerges at 1.1026 (2019 low Aug.1) seconded by 1.1021 (high May 8 2017) and finally 1.0839 (monthly low May 11 2017).
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