/EUR/USD bounces off lows on US Payrolls, near 1.2300 | by Pablo Piovano | FXStreet

EUR/USD bounces off lows on US Payrolls, near 1.2300 | by Pablo Piovano | FXStreet

The pair prints fresh daily lows in the wake of NFP. US Non-farm Payrolls came in stronger in February. Key Average Hourly Earnings rose at a monthly 0.1%. The offered tone has gathered extra steam around the single currency on Friday and forced  EUR/USD to visit the area of new daily lows around 1.2270, just to rebound afterwards.EUR/USD tumbles further post-NFPSpot is now accelerating the weekly lewg lower after the US economy created 313K jobs during February, surpassing estimates at 200K and up from January’s 239K (revised from 200K). Further data showed the unemployment rate stayed put at 4.1%, below prior surveys. The key Average Hourly Earnings – a proxy for wage inflation – rose at a monthly 0.1% and 2.6% over the last twelve months (vs. 2.8% expected). Later in the session, Boston Fed E.Rosengren (2019 voter, dovish) and Chicago Fed C.Evans (2019 voter, centrist) are also due to speak. EUR/USD levels to watch At the moment, the pair is losing 0.12% at 1.2300 and a break below 1.2240 (55-day sma) would target 1.2206 (low Feb.9) en route to 1.2165 (low Jan.18). On the upside, the next hurdle emerges at 1.2446 (high Mar.8) seconded by 1.2537 (high Jan.25) and then 1.2557 (2018 high Feb.18).