EUR/USD tests 1.1000 after Payrolls

The single currency has now accelerated its daily downside, relegating EUR/USD to test fresh lows.

EUR/USD weaker post-NFP

Spot has resumed its bearish mood after June's Non-farm Payrolls showed the US economy has created 287K jobs vs. 175K initially forecastsed and up from May's 11K (revised from 38K).

Further data saw the unemployment rate ticking higher to 4.9% from 4.7%, missing initial estimates, and Average Hourly Earnings rising at a monthly pace of 0.1% vs. 0.2% expected.

However, the current reaction in the pair should be limited, as global sentiment remains vigilant on the events post-Brexit as the main drivers for direction in the near to medium term.

EUR/USD levels to watch

The pair is now retreating 0.43% at 1.1016 and a break below 1.0913 (post-Brexit low Jun.24) would expose 1.0820 (low Mar.10). On the other hand, the next hurdle lines up at 1.1094 (200-day sma) followed by 1.1175 (base of the 6-month rising channel) and finally 1.1184 (high Jul.5).