EUR/USD climbs further post-Payrolls (06/05/16)


EUR/USD is extending its upside bias today, now posting fresh tops well above the 1.1400 handle.

EUR/USD stronger on poor NFP

The pair has gathered further steam after US Non-farm Payrolls have disappointed expectations during April, showing the US economy has created 160K jobs vs. 202K initially estimated and 208K from the previous month (revised from 215K).

Further data saw the unemployment rate staying put at 5.0%, in line with market consensus.

EUR/USD levels to watch

The pair is now up 0.60 at 1.1474 and a break above 1.1615 (2016 high May 3) would open the door to 1.1713 (high Aug.24 2015) and finally 1.2110 (2015 high Jan.2). On the other hand, the immediate support lines up at 1.1386 (low May 5) followed by 1.1357 (20-day sma) and finally 1.1213 (low Apr.25).

News Source: fxstreet.com