- The dollar extends advance in the market after employment data, but then moderates rise.
- EUR / USD manages to sustain above 1.1500 and returns above 1.1520.
The EUR / USD fell to 1.1514, the lowest level since July 2020, after the October US employment report figures were released, which exceeded expectations. The dollar had an immediate rise although later it moderated the advance.
The positive for the euro is that it managed to defend 1.1500 and that after a few minutes it returned to 1.1520 / 25, where the previous lows are located.s. Volatility after the report remains high.
The employment report showed an increase in non-farm payrolls of 531,000, above the 425,000 expected. In addition, it gave a drop greater than expected in the unemployment rate. The data, in addition to giving a boost to the dollar, raised Wall Street futures, and caused a rise in the yields of Treasury bonds.
If the EUR / USD turns back below 1.1520, more pressure would be expected for a test at 1.1500. While in the opposite direction, the euro needs to recover 1.1550 to change the intraday bias.
Technical levels
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