Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.
The U.S Nonfarm Payrolls fell 223K, from 280K in the previous month. U.S Nonfarm Payrolls was expected to fall 230K in the last month.
The U.S Unemployment Rate fell 5.3 %, from 5.5% in the previous month, U.S Unemployment Rate was expected to fall 5.4% in the last month.
Market Impact: The US dollar is likely to see a corrective pullback, towards the 95.88 levels before the next big rise, main support comes at the 95.63 levels as the daily chart suggests…
EURUSD remains under heavy pressure, even negative Nonfarm Payrolls is not enough to save the EURUSD !!
The pair has already broken above the key resistance 1.1087, the pair in recovery mode at the moment, any rise above the 1.1087 levels should be limited (below) by the 1.1170 levels where strong rejection is very likely !!! support comes at the 1.1047 levels where a cut will end recovery mode and open 1.0953 levels.