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- EUR/USD keeps the familiar range near 1.1050 post-NFP
EUR/USD keeps the familiar range near 1.1050 post-NFP
- EUR/USD keeps the bearish note near the 1.1050 region.
- US Nonfarm Payrolls rose by just 431K jobs in March.
- The unemployment rate ticked lower to 3.6%.
The selling interest around the single currency remains well in place at the end of the week and pushes EUR/USD back to the vicinity of the 1.1000 zone in the wake of US NFP.
EUR/USDnow looks to ISM
EUR/USD keeps the negative stance on Friday after the US economy created 431K jobs during March, missing estimates for a gain of 490K jobs. The Febuary reading was revised to 750K (from 678K).
Further data showed the jobless rate eased to 3.6% and the critical Average Hourly Earnings – a proxy for inflation via wages – rose 0.4% MoM and expanded 5.6% over the last twelve months. Another key gauge, the Participation Rate, improved a tad to 62.4%.
Later in the NA session, the ISM Manufacturing is due seconded by the final print of the Manufacturing PMI, both for the month of March.
EUR/USD levels to watch
So far, spot is losing 0.08% at 1.1057 and faces the next up barrier at 1.1184 (weekly high March 31) followed by 1.1187 (55-day SMA) and finally 1.1243 (100-day SMA). On the other hand, a drop below 1.0944 (weekly low March 28) would target 1.0900 (weekly low March 14) en route to 1.0805 (2022 low March 7).
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