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EUR/USD Rebounds to 1.2160 on Soft NFP Figures

Adel 4 June, 2021 5:35 pm Forex Market, Market Update

Buying interest around the EUR/USD subsides and is pushing the pair back into the 1.2160 region following the lower-than-expected US Non-Farm Payrolls report.

The EUR/USD pair reversed the initial decline on Friday after data showed that the US economy created 559K jobs in May, below expectations of 650K jobs.

At the time of writing, the price is 0.21% higher at 1.2151 and the pair faces the next hurdle at a monthly high of May 25 at 1.2266, then 1.2300, then 1.2349. On the other hand, a break below a weekly low (June 4) at 1.2103 opens the door to 1.2064 and then 1.2051.

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