Mixed U.S Jobs Report Buy USD On Dips!

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The U.S Nonfarm Payrolls rose 224K, from 72K a month earlier. Passing a forecast of 160K. This scenario is positive for the U.S.D.While the Unemployment Rate rose 3.7%, from 3.6% in the last month. This scenario is negative for the U.S.D

Since U.S data is mixed today, the U.S is bullish almost against all major currencies. So buying the U.S on dips is recommended.

EURUSD: The pair is under pressure, trading around the key support 1.1255 levels. Any rebound will be limited by 1.1280/1.1317 levels.

Support:1.1255, 1.1225, 1.1690,1.1160, 1.1125

Resistance: 1.1317, 1.1355, 1.1400, 1.1455, 1.1490

GBPUSD: The pair is under heavy pressure, support comes at 1.2530 levels. Any rebound will be limited by 1.2590 levels.

Support: 1.2555,1.2530, 1.2480, 1.2418, 1.2375, 1.2285

Resistance: 1.2590, 1.2640, 1.2695, 1.2745, 1.2812, 1.2865

Note: If the pair falls to 1.2480. Selling on rebound around 1.2530 is a good option. At the moment. 1.2555 is likely to serve as a strong resistance!

USDJPY: The pair is neutral with a bullish bias. Resistance comes at 108.55 levels. A break would open 109.00 levels. Buying on dips is recommended.

Support: 108.08, 107.75, 107.15, 106.60, 105.87, 105.00

Resistance: 108.55, 109.00, 109.59, 110.35, 110.73

AUDUSD: The pair is bullish above 0.6992. But remains vulnerable for a sudden fall below 0.7030 levels…stay aside…

Support: 0.6992, 0.6960, 0.6928, 0.6875, 0.6850, 0.6800

Resistance: 0.7030, 0.7060, 0.7100, 0.7140, 0.7200

USDCAD: The pair is bearish. But data from the U.S and Canada come against the trend. As a result,  a corrective recovery is likely. Buy any rebound will face strong resistance around 1.3150 levels ahead of 1.3225 levels.

Support 1.2975, 1.2870, 1.2790, 1.2700, 1.2600

Resistance: 1.3075, 1.3150, 1.3228, 1.3285, 1.3365

Note that Canada will report on Ivey PMI (Jun) today at 14:00 GMT. Selling around resistance still recommended.

¬†Conclusion: I don’t think the market will make a big move today for 2 reasons:

1- Mixed jobs report…

2- U.S market will close very soon…

Remember: Broken support will serve as resistance and vice-versa…