EUR/USD faded the spike post-NFP, now looks to 1.0600

EUR/USD has quickly reverted the initial spike to the area of daily highs around 1.0660 in the wake of US Non-farm Payrolls and is now attempting to test the 1.0600 neighbourhood.

EUR/USD gives away gains, USD recovers

The buck has been revitalized after yields in the US money markets have rapidly rebounded from the NFP-led drop to fresh lows, with the 10-year reference retaking the 2.30% barrier after briefly recording fresh YTD lows near 2.27%.

The pair has thus U-turned from the initial peak and is now looking to put the 1.0600 key support under renewed pressure, as markets seem to have quickly digested today’s disappointing US labour figures, where the US economy created less jobs than initially forecasted during March (98K act. vs. 180K exp.)

In the meantime, spot stays firm on uits way to close the second week with losses, coming down to challenge 4-week lows and shedding almost three cents since late March tops just above 1.0900 the figure.

EUR/USD levels to watch

At the moment the pair is losing 0.22% at 1.0621 and a breach of 1.0610 (low Apr.6) would target 1.0597 (low Mar.14) and then 1.0523 (low Mar.9). On the flip side, the immediate hurdle aligns at 1.0673 (55-day sma) followed by 1.0705 (high Mar.31) and finally 1.0724 (20-day sma).