EUR/USD turns negative near 1.1370 on US Payrolls

  • The pair loses further momentum and drops to session lows.
  • The greenback picks up pace and advance to the 96.30 region.
  • US Non-farm Payrolls came in above expectations at 312K.

The offered tone is gathering steam around the single currency at the end of the week and is now forcing EUR/USD to drop and print fresh lows in the 1.1360 zone.

EUR/USD retreats further post-NFP
The pair erases further ground after the US economy created 312K jobs during December, bettering estimates at 178K and up from November's 176K (revised from 155K). Additional data showed the unemployment rate ticked higher to 3.9%.

Further out, the critical Average Hourly Earnings – a proxy for wage inflation – expanded at a monthly 0.4% and 3.2% over the last twelve months, both prints surpassing forecasts.

EUR/USD levels to watch

At the moment, the pair is losing 0.14% at 1.1375 facing the next up barrier at 1.1420 (high Jan.4) seconded by 1.1478 (100-day SMA) and finally 1.1547 (high Jan.1). On the flip side, a breakdown of 1.1309 (2019 low Jan.2) would target 1.1268 (monthly low Dec.14 2018) en route to 1.1214 (2018 low Nov.12).

	EUR/USD turns negative near 1.1370 on US Payrolls


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