EUR/USD surrenders some gains post-NFP, back to 1.1440
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- EUR/USD eases some ground following fresh tops past 1.1480.
- US Non-farm Payrolls rose by just 467K jobs in January.
- The unemployment rate ticked higher to 4.0%.
The buying interest around the single currency remains well and sound at the end of the week and pushes EUR/USD back to the mid-1.1400s in the wake of US NFP.
EUR/USD retreats from YTD tops
EUR/USD keeps the positive stance on Friday after the US economy created 467K jobs during January, bettering expectations for a gain of 150K jobs. The December's reading was revised to 510K (from 199K).
Further data showed the jobless rate rose to 4.0% and the critical Average Hourly Earnings – a proxy for inflation via wages – rose 0.7% MoM and expanded 5.7% over the last twelve months. Another key gauge, the Participation Rate, improved to 62.2%.
EUR/USD levels to watch
So far, spot is gaining 0.05% at 1.1440 and faces the next up barrier at 1.1483 (2022 high Feb.4) followed by 1.1500 (200-week SMA) and finally 1.1676 (200-day SMA). On the other hand, a break below 1.1308 (55-day SMA) would target 1.1121 (2022 low Jan.28) en route to 1.1100 (round level).
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