EUR/USD falls back below 1.1200 and turns negative

EUR/USD made a dramatic U-turn and reversed NFP-inspired gains, as the dollar shrugged-off the disappointing jobs report.

EUR/USD lost over 100 pips from a post-NFP high of 1.1251 and bottomed out 1.1149 in recent dealings. The pair was last trading at 1.1155, recording a 0.35% loss on the day and still on track to post a the second weekly loss in a row.

EUR/USD levels to watch

In terms of technical levels, immediate supports are seen at 1.1133 (50-day SMA), 1.1121 (200-day SMA) and 1.1045 (Aug 5 low). On the flip side, resistances could be found at 1.1251 (Sep 2 high), 1.1300 (psychological level) and 1.1340 (Aug 26 high).