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Forex pairs in this Article » EUR/USD (Barcelona) - Having range traded between 1.3618 and 1.3582, EUR/USD has climbed following today's Non Farm Payroll miss.

EUR/USD higher on Non Farm Payrolls collapse

US Nonfarm Payrolls have collapsed to 74k against expectations of 196k and 241k previous causing spot to push higher to where it is presently trading at 1.3648 in the immediate aftermath. However, it should be noted that the US Unemployment rate fell to 6.7% from 7% previous. Elsewhere, Average Hourly Earnings declined to 0.1% from 0.2% expected. The result is that likely the Fed will remain in Dovish mode, with the tapering debate postponed until March, just a day after the Dovish ECB meet.

What are today´s key EUR/USD technicals?

Hourly RSI sits at 70, entering overbought territory, with ADX at 31, The daily pivot point sits at 1.3595, with the hourly 200 SMA at 1.3656 providing resistance to spot at present. The Daily 50 SMA is offering support at 1.3602 before the 100 SMA at 1.3540.
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