EUR/USD drops further post-NFP, near 1.2470
The single currency is losing extra momentum vs. the buck on Friday, with EUR/USD now testing the area of fresh daily lows in the wake of January's US payrolls
EUR/USD offered post-US data
The pair has accelerated its correction lower on Friday after US non farm payroll showed the economy added 200K jobs during January, surpassing estimates at 180K and up from December's 160K (revised from 148K).
Additional data saw the jobless rate at 4.1%, in line with expectations, while average hourly earnings – a good measure of wage inflation – expanded 0.3% inter-month and 2.9% over the last twelve months.
EUR/USD levels to watch
At the moment, the pair is losing 0.26% at 1.2482 facing the immediate support at 1.2399 (10-day sma) followed by 1.2336 (low Jan.30) and finally 1.2251 (21-day sma). On the other hand, a breakout of 1.2522 (high Feb.2) would target 1.2537 (2018 high Jan.25) en route to 1.2571 (high Dec.16 2014).