untitled design

EUR/USD extends gains above parity level after US NFP.

  • EUR/USD remains above the parity level on Friday.
  • US nonfarm payrolls increased by 315,000 jobs in August.
  • The unemployment rate rose to 3.7%.

The EUR/USD keeps the daily supply bias unchanged and manages to retest the 1.0030 region after the release of August non-farm payrolls.

EUR/USD looks well supported near 0.9900

EUR/USD remains positive on Friday after the non-farm payroll release showed the US economy added 315,000 jobs during the month of August, beating initial estimates of a 300,000 job gain. July’s reading was revised slightly lower to 526,000 (from 528,000).

The unemployment rate rose to 3.7% (from 3.5%) and the median hourly wage, a gauge of inflation through wages, rose 0.3% month-on-month and 5.2% from a year earlier. Additionally, the participation rate improved slightly to 62.4% (from 62.1).

Next, in the United States, factory orders for July will be published.

Technical levels

So far the pair is gaining 0.67% at 1.0013 and further upside could retest 1.0090 (weekly high Aug 26) before 1.0202 (high Aug 17) and finally 1.0203 (55-day SMA). On the other hand, the break of 0.9899 (Aug 23 low) would target 0.9859 (Dec 2002 low) on the way to 0.9685 (Oct 2022 low).

Source: Fx Street

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular