3.5% unemployment rate. Adding jobs but workers still not getting paid more
The US employment report was decent with 3.5% unemployment rate, jobs being added, but workers still not getting raises (0.0% earnings/2.9% YoY vs 3.2% last).
The EURUSD moved higher and lower on the release. The low price reached 1.0956 so far. The 1.0964-67 area is a swing area going back to September 23 (was support), Septmeber 26 (was resistance). Yesterday and earlier today, the price used the level to deflect off at times.
Sellers are so far trying to lean against that swing area and make a run back toward the 200 and 100 hour MA. Move above and the sellers may look to cover as they get no satisfaction. The 50% retracement at 1.09769 would be eyed on the topsdies. Get back above and the 1.1000 level becomes the focus once again. That level has been a ceiling so far this week.
Sellers are trying to keep a lid on the pair but there is good two way flows. The pair is sitting on the wall at the 1.0964-67 area. Which way will Humpty Dumpty fall