Low correction from Friday and 200 hour MA hold on the first look
We need to remember that the US employment report did come out much stronger than expectations on Friday with NFP adding 292K (and higher revisions as well). The initial move was a sharp decline to support against the 1.0800 area. The subsequent move higher saw the price move above the 200 hour MA (green line in the chart below) and then retest that MA at the 1.0869 area. That level holds and the price extends to new session highs at the close.
Forex technical analysis: EURUSD being whipped around a bit, and but corrective in trading today
