EUR/USD advances further on downbeat NFP

The bid tone around the common currency has gathered extra pace today, now lifting EUR/USD to print fresh daily highs above the 1.1200 handle.

EUR/USD stronger after US releases

Spot met increasing buying pressure after US Non-farm Payrolls showed the economy has created 151K jobs during last month, missing expectations at 180K and down from July’s 275K (revised from 255K).

Further data saw the unemployment rate staying at 4.9%, below prior surveys.

The pair is now extending the upside adding to yesterday’s tops beyond 1.1200 the figure, as today’s results have just poured cold water over market bets for a Fed’s rate hike in the next months (or this moth maybe?).

EUR/USD levels to watch

The pair is now up 0.29% at 1.1229 and a break below 1.1128 (low Aug.30) would target 1.1127 (200-day sma) en route to 1.1043 (low Aug.5). On the flip side, the next hurdle lines up at 1.1367 (high Aug.18) and then 1.1434 (high Jun.24).