#EURUSD @ 1.09040 US Nonfarm Payrolls rise by 236K in March against 240K expected; Unemployment rate drops to 3.5%. (Pivot Orderbook analysis)
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- US Nonfarm Payrolls rise by 236K in March against 240K expected; Unemployment rate drops to 3.5%.
- US Dollar rises after NFP, US yields soar.
- EUR/USD drops to test levels under 1.0880.
The pair currently trades last at 1.09040.
The previous day high was 1.0938 while the previous day low was 1.0884. The daily 38.2% Fib levels comes at 1.0917, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0905, expected to provide resistance.
The EUR/USD fell from 1.0915 to the 1.0880 zone, reaching the lowest level since Monday, after the release of the US employment report. Numbers came in mostly in line with expectations, boosting the Greenback across the board.
The US Labor Department’s closely watched jobs report showed Nonfarm Payrolls increased by 236,000 in March, near the 240,000 of markets consensus. The Unemployment rate fell by one-tenth of a percentage point to 3.5%. Average hourly earnings rose by 0.3% MoM, matching consensus.
The data was mostly in line with expectations, however, market participants might have been looking at weaker-than-expected data considering the latest economic indicators that point to a softer labor market.
The US yields jumped after the report, boosting the US Dollar. At the same time, Wall Street futures are up. The DXY is above 102.00, while the US 10-year yields rose from 3.32% to 3.37%.
The EUR/USD is testing levels under 1.0880 amid a stronger Greenback. Further weakens in the pair could expose the next support at 1.0850 and then 1.0820. A recovery above 1.0925 would change the intraday outlook from negative to positive.
Technical Levels: Supports and Resistances
EURUSD currently trading at 1.0915 at the time of writing. Pair opened at 1.0923 and is trading with a change of -0.07 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.0915 |
| 1 | Today Daily Change | -0.0008 |
| 2 | Today Daily Change % | -0.0700 |
| 3 | Today daily open | 1.0923 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.079, 50 SMA 1.0734, 100 SMA @ 1.0674 and 200 SMA @ 1.035.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.0790 |
| 1 | Daily SMA50 | 1.0734 |
| 2 | Daily SMA100 | 1.0674 |
| 3 | Daily SMA200 | 1.0350 |
The previous day high was 1.0938 while the previous day low was 1.0884. The daily 38.2% Fib levels comes at 1.0917, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.0905, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.0892, 1.0862, 1.0839
- Pivot resistance is noted at 1.0946, 1.0968, 1.0999
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.0938 |
| Previous Daily Low | 1.0884 |
| Previous Weekly High | 1.0926 |
| Previous Weekly Low | 1.0745 |
| Previous Monthly High | 1.0930 |
| Previous Monthly Low | 1.0516 |
| Daily Fibonacci 38.2% | 1.0917 |
| Daily Fibonacci 61.8% | 1.0905 |
| Daily Pivot Point S1 | 1.0892 |
| Daily Pivot Point S2 | 1.0862 |
| Daily Pivot Point S3 | 1.0839 |
| Daily Pivot Point R1 | 1.0946 |
| Daily Pivot Point R2 | 1.0968 |
| Daily Pivot Point R3 | 1.0999 |
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