The EUR/USD has lost more than 40 pips in the immediate aftermath of news that the US created many more jobs than expected in February. The pair fell from the 1.1935 zone below 1.1900 to mark new 3+ month lows at 1.1893, although now it is recovering some ground.
Non-Farm Payrolls for the United States showed that 379,000 jobs were created in February, a figure that is more than double the 182,000 estimated, also well above the 166,000 jobs created in January (revised up from 49,000). The unemployment rate fell one tenth to 6.2%, from the previous and expected 6.3%.
The dollar strengthened with good US employment figures, leading the DXY index measuring the greenback to 92.20, its highest level since November 25.
EUR / USD levels
With the pair trading at the time of writing above 1.1912, losing 0.48% on the day, a further retracement would find Initial support at 1.1885, Nov 26 low. Below, wait 1.1800, the ground of November 23, 2020.
In case of regaining ground, the first resistance is in the psychological zone 1.2000. Higher up awaits 1.2113, ceiling of March 3 and the whole week.
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