The EUR/USD has reacted to the release of US jobs data with a rise of more than 60 pips from the 1.0783 area to new daily highs at 1.0545.
Non-Farm Payrolls increased by 223,000 in December, exceeding the 200,000 expected, while the unemployment rate fell to 3.5% from 3.6% previously, better than the 3.7% estimate. However, average hourly earnings, wages increased by 4.6%, below the previous 4.8% and the expected 5%.
Traders will now be focused on digesting the news and the US services PMI data, as it could move markets again in less than an hour.
EUR/USD Levels
With EUR/USD trading above 1.0532 at time of writing, gaining 0.12% on the day, the next resistance is located at 1.0550followed by 1.0600. Higher up wait 1.0635ceiling of January 4, and beyond, 1.0736 (maximum of last December).
To the downside, a drop below the daily low at 1.0483 could lead to 1.0443 (7 Dec low) en route to 1.0311 (200-day SMA).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
