- US economy has added 223K jobs in April compared to forecast of 224K. The unemployment rate is at 5. 4%. The March NFP data has been revised down to 85k compared to prior 126K. Thus better than expected NFP data will increase the speculation of rate hike by Fed in coming months.
- Technically EUR/USD has recovered till 1.28870 and declined form that level. On the downside minor support is around 1.1800 and any break below will target 1.1100/1.1070 in short term.
It is good to sell on rallies around 1.11950 with stop around 1.12500 for the target of 1.11000/1.1070.
The material has been provided by InstaForex Company – www.instaforex.com