EUR/USD rebounds as dollar retreats following strong US jobs data

EUR/USD staged a recovery during Tuesday's session, with the dollar pulling back despite Monday's robust US employment figures. The pair rose 0.25% to trade near 1.0875 as traders took profits on dollar longs following the initial jobs-driven rally. US employment data had shown stronger-than-expected job additions, initially boosting the greenback across the board. However, concerns about sustainability of US economic momentum and mixed signals from other indicators prompted a reassessment. Technical analysis indicates EUR/USD found support at the 1.0840 level, with momentum indicators suggesting room for further recovery. Immediate resistance lies at 1.0900, a break above which could target 1.0920. The rebound reflects market participants balancing strong US labor market conditions against broader concerns about global growth and potential Fed policy shifts. Traders await Wednesday's eurozone inflation data and Thursday's ECB meeting minutes for further directional clues.