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Forex pairs in this Article » EUR/USD
FXstreet.com (Córdoba) - The US Department of Labor will release the awaited June nonfarm payrolls figures at 12:30GMT, with consensus calling for a 165,000 job creation.

According to Valeria Bednarik, chief analyst at FXstreet.com, data is set to make it or break it for the greenback trend given the divergence between European and US monetary policies. "While in one shore of the Atlantic we are talking of retrieving facilities, over the other shore economic policies are set to continue and even extend", says Bednarik.

"A deviation to the upside, to somewhere near 200K along with an unemployment rate of 7.5% or less, dollar will likely see a strong upward momentum, particularly against weaker EUR and JPY", says the analyst. "Downward revisions to previous number and/or disappointing readings will delay the end of QE and therefore trigger a weaker greenback knee-jerk".

EUR/USD levels to watch

As for EUR/USD, the pair scored a fresh 5-week low of 1.2868 on Friday, as it continues to feel the ECB pressure. On the downside, immediate supports are seen at 1.2868 (daily low) and 1.2837 (May 29 low), while on the upside, resistances could be encountered at 1.3015 (10-day SMA) and 1.3030 (Jul 3 high).
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