EUR/USD holds 1.1120 as positive US jobs data supports dollar
EUR/USD maintained levels near 1.1120, down 0.15% intraday, as unexpectedly positive US employment indicators provided dollar support. The latest jobless claims fell to 218,000, below forecasts of 225,000, marking rare positive news for the US labor market. USD/JPY advanced 0.4% to 142.80, while AUD/USD slipped 0.2% to 0.6880 amid dollar strength. NZD/USD similarly declined 0.25% to 0.6250. The improved jobs data reduces immediate pressure on the Fed for aggressive rate cuts, supporting dollar bulls. Technical resistance for EUR/USD sits at 1.1150 (weekly high), with support at 1.1080 (50-day moving average). Traders now await Friday's comprehensive Non-Farm Payrolls report, which could either reinforce or reverse current dollar momentum. The positive employment trend, if sustained, may prompt Fed officials to maintain a measured approach to future rate adjustments.
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