The EUR/USD has recovered from lows of 1.18.
In June, non-farm payrolls in the United States increased by 850K jobs.
The unemployment rate rose a tenth of a percent to 5.9%.
In the aftermath of the US NFP, the EUR/USD pares initial losses and reclaims the 1.1840/50 zone.
On Friday, the EUR/USD regained its grin as the US economy added 850K jobs in June, exceeding predictions of 700K. The reading for May was changed to 583K. (from 559K).
Further data revealed that the unemployment rate increased to 5.9%, and that the crucial Average Hourly Earnings – a proxy for inflation via wages – grew 0.3 percent month over month and expanded 3.6 percent over the previous twelve months. Another important metric, the Participation Rate, stayed at 61.6 percent.
Aside from payrolls, the final trade deficit for the month of May was $71.20 billion.
So far, spot is up 0.04 percent at 1.1851; a break below 1.1807 (July’s monthly low) would target 1.1762 (November-January rally’s 78.6 percent Fibo) and route to 1.1704. (2021 low Mar.31). The next resistance level, on the other side, is 1.1975 (weekly high of June 25), followed by 1.1996 (200-day SMA), and finally 1.2000. (psychological level)./n
