EURUSD recovered slightly after a decline till 1.12556 at the time of writing. The pair was trading a narrow range of 1.13220 and 1.12558 ahead of US Non-Farm payroll data.
The pair declines till 1.12325after the release of better than expected US jobs data.
US Actual Forecast Previous Non-Farm Employment Change 224K 162K 75K
Unemployment rate 3.70% 3.60% 3.60%
Average hourly earnings m/m 0.20% 0.30% 0.20%
On the flip side, the pair is trading below 100- day Ma at 1.126000 and this confirms major weakness and a decline till 1.11800 is possible.
The near term major resistance is around 1.13200 and any violation above will take the pair to next level till 1.1360/1.1400.
It is good to sell on rallies around 1.1255-60 with SL around 1.1300 for the TP of 1.11800.