EURUSD advances after weak payrolls


The greenback erased its earlier gains after a really weak NFP number and the EURUSD pair was trading flat at around 1.2270 in the initial reaction.

Current supports could be seen at 1.2240 and afterward at around today's lows in the 1.2220/10 region. 

Alternatively, the resistance is probably located at 1.2280 and if the euro jumps above that level, we could see another leg higher toward 1.2310.

The medium and long-term trends still look bullish, but short-term corrections could occur. Especially as US yields are starting to accelerate higher, which should be supportive for the greenback. 
Cookie Policy: The Axiory website uses cookies and by continuing using the website you consent to this. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please read the full Privacy Policy.