EUR/USD in fresh highs post-NFP, near 1.1250

The single currency is gaining further momentum in the wake of US payrolls, with EUR/USD now testing the area of fresh tops around 1.1250.

EUR/USD bid post-US data

The pair has accelerated its correction higher on Friday after US non farm payroll figures showed the economy added 138K jobs during May, missing estimates at 185k and down from April’s 185K (revised from 174K).

Additional data saw the jobless rate at 4.3%, bettering expectations, while average hourly earnings – a good measure of wage inflation – expanded 0.2% inter-month.

EUR/USD levels to watch

At the moment, the pair is gaining 0.33% at 1.1250 and a breakout of 1.1257 (high Jun.1) would target 1.1268 (2017 high May 23) en route to 1.1300 (high Nov.9 2016). On the flip side, the immediate support lines up at 1.1165 (low May 31) followed by 1.1108 (low May 30) and finally 1.1073 (76.4% Fibo of 1.1300-1.0339).