FxWirePro: EUR/USD jumps to eight-session high after weak U.S. jobs data

• EUR/USD climbed to an eight-session high on Thursday as the U.S. dollar weakened sharply following softer-than-expected economic data, which dampened expectations of a near-term Federal Reserve interest rate hike

• June non-farm payrolls rose by just 57,000, well below market expectations of 110,000, while May's employment gain was revised down sharply to 129,000 from the previously reported 172,000.. 

• The labor force participation rate also declined to 61.5%, reinforcing signs that the U.S. labor market is gradually cooling rather than overheating..

• The weaker-than-expected jobs data pushed U.S. Treasury yields and short-term interest rates lower as markets repriced the Federal Reserve's policy outlook.

•   Immediate resistance is located at 1.1472( SMA 20), any close above will push the pair towards 1.1507 (50%  fib)

• Strong support is seen at 1.1372(38.2%  fib) and break below could take the pair towards 1.1325(Lower BB).

  Recommendation: Good to buy around 1.1460, with stop loss of 1.1550 and target price of 1.1400