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EUR/USD slips to fresh lows on Payrolls

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The selling pressure is now picking up pace around the common currency, sending EUR/USD to test fresh daily lows.

    EUR/USD weaker post-Non farm Payrolls

    Spot has seen its downside renewed after the US economy has created 292K jobs during December, beating forecasts for 200K gain and up from November’s 252K (revised from 211K). Further data saw the unemployment rate at 5.0%, matching previous estimates.

    EUR/USD levels to watch

    The pair is retreating 1.05% at 1.0820 with the immediate support at 1.0800 (psychological level) followed by 1.0798 (50% Fibo of 1.0538-.1059) and then 1.0538 (low Dec.3). On the other hand, a break above 1.1032 (100-day sma) would target 1.1059 (high Dec.15) en route to 1.1136 (5-month downtrend).
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