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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).

EUR/USD now looks to 1.2598 – Scotiabank

FX Strategists at Scotiabank remain bullish on the pair, while the vicinity of the 1.2600 handle has come under renewed attention. Key Quotes “Near-
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US: Total nonfarm payroll employment rose by 200,000 in January

"Total nonfarm payroll employment increased by 200,000 in January, and the unemployment rate was unchanged at 4.1 percent," the U.S. Bureau of Labor S
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