On Monday, the EUR/USD exchange rate fluctuated near previous levels. Namely, it was located below the 1.1175 mark.
Meanwhile, take into account that on Friday the 55-hour simple moving average had failed to stop a short drop to the 1.1130 level. US Employment data
The European Common Currency depreciated against the US Dollar, following the US Employment data set release on Friday at 12:30 GMT. The EUR/USD exchange currency rate lost 21 pips or 0.19% right after the release. The Euro continued trading at the 1.1135 level against the Greenback.
The Bureau of Labor Statistics released the US Non-Farm Employment Change data, which came out better-than-expected of 128K compared with the forecast of 90K.
According to the official release: "Notable job gains occurred in food services and drinking places, social assistance, and financial activities. Within manufacturing, employment in motor vehicles and parts decreased due to strike activity. Federal government employment was down, reflecting a drop in the number of temporary jobs for the 2020 Census."
Economic Calendar Analysis
EUR/USD hourly chart's review
During Friday morning, the EUR/USD currency pair traded sideways around the psychological level at 1.1165. During today's morning, the pair was testing the support formed by the 55-hour SMA at 1.1160.Hourly Chart
On Monday, 71% of open EUR/USD position volume on the Swiss Foreign Exchange was in short positions.
Meanwhile, pending trade orders were set to sell, as 61% of orders in the 100-pip range were to sell and 39% were to buy. Previously, the orders were 58% bearish.