EUR/USD slumps to fresh lows on Payrolls

The common currency met extra downside pressure after today’s Non-farm Payrolls, dragging EUR/USD to fresh daily troughs below the 1.1100 handle.

EUR/USD weaker on NFP

Spot gathered extra downside traction after Non-farm Payrolls figures showed the US economy added 255K jobs during the last month, beating expectations at 180K and down from June’s 292K (revised from 287K).

Further data saw the unemployment at 4.9%, missing initial forecasts. Additionally, US trade deficit has widened to $44.51 billion in June vs. $40.96 billion in May.

EUR/USD levels to watch

The pair is now losing 0.24% at 1.1106 facing the initial resistance at 1.1236 (high Aug.2) ahead of 1.1263 (50% Fibo of the May-June down move) and then 1.1291 (base of the 8-month rising channel). On the other hand, a breach of 1.1080 (200-day sma) would target 1.0950 (low Jul.25) en route to 1.0913 (post-Brexit low Jun.24).