EUR/USD breaks significant resistance at 1.1660 after a dismal US jobs data. It hits an intraday high of 1.16751 and is currently trading around 1.16710. Intraday trend remains bullish as long as support 1.1600 holds.
In a stunning turn, the November 2025 US ADP report indicated the first private-sector job loss (-32,000) in over two years, therefore erasing consensus expectations of +100K to +150K gains and signifying a steep drop from October's revised +146K. Small businesses were decimated with a 120,000-job loss; manufacturing, information, and professional services also lost considerably; minor gains in major companies and particular areas provided little balance. With salary increase for job-stayers cooling to +4.4% y/y, the study screams labor-market deterioration under high interest rates, immediately weakening the dollar, sparking recession anxieties, and pushing markets to price in aggressive Fed rate cuts—possibly 50 bps as early as December.
The pair is holding below the 55 EMA, 200 EMA, and 365 EMA in the 15-min chart. Near-term resistance is seen at 1.15750, a break above this may push the pair to targets of 1.16000/1.1670/1.1700/1.1765/1800/1.1835/1.1850/1.1920. On the downside, support is seen at 1.1500; any violation below will drag the pair to 1.1435/1.1400.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bearish
Average Directional Movement Index (ADX) - Bearish
It is good to sell on rallies around 1.15750 with a stop-loss at 1.1620 for a target price of 1.1435.


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