EUR/USD in fresh lows near 1.1680 on US payrolls

The selling interest is now resuming around the shared currency, sending EUR/USD to the area of daily lows near 1.1680.

EUR/USD offered after US data

Spot met fresh selling orders after the US economy created just 33K jobs during September vs. 90K initially forecasted, although muchlower than August’s 169K (revised from 156K).

In addition, the US jobless rate dropped to 4.2%, bettering consensus, while critical average hourly earnings – a proxy for wage inflation – rose at a monthly 0.5% surprising to the upside.

In the meantime, the pair remains under pressure amidst the recent regional headlines from Spain, USD-supportive Fedspeak and recent comments by ECB board members, showing some concerns over the rapid appreciation of the exchange rate.

EUR/USD levels to watch

At the moment, the pair is down 0.32% at 1.1673 and a break below 1.1662 (low Aug.17) would target 1.1595 (100-day sma). On the other hand, the next up barrier emerges at 1.1764 (10-day sma) followed by 1.1833 (55-day sma) and finally 1.1861 (21-day sma).