USD Slides On Negative Nonfarm Payrolls Data

Forex-9898986

The U.S Nonfarm payrolls fell 160K, from 208K in the previous month. The indicator was expected to fall 202K in the last month.

The U.S unemployment rate remained unchanged at a seasonally adjusted 5.0%, from 5.0% in the preceding month as expected…

This development put the USD under pressure. A corrective pullback is likely before the next rise…

EURUSD: As long as 1.1396/1.1420 support holds on a 4-hour closing basis. The pair remains in a recovery mode and further upside couldn’t be ruled towards the 1.1476/1.1508 levels before the next fall. Below 1.1396 will restore the downside momentum and open the 1.1368/1.1345 levels…

GBPUSD: The pair remains under pressure as long as trades below 1.4520 levels on a 4- hour closing basis. Support comes at 1.4415 levels, above 1.4520 faces a recovery risk towards the 1.4628 levels…

USDJPY: The pair was rejected from the key resistance 107.44 but downside below 107.44 should be contained well by the key support 106.24…

MARKET DATA

UPCOMING ECONOMIC EVENTS