The EUR/USD has found support in the 200-hour SMA, and, by the middle of Monday's European trading session, the rate had reached the resistance of the 55 and 100-hour SMAs near 1.1080.
The rate's future movements were based upon what would happen at the 1.1080 mark. US Employment Data
The European Common Currency depreciated against the US Dollar, following the US Employment data set release on Friday at 13:30 GMT. The EUR/USD exchange currency rate lost 30 pips or 0.27% right after the release. The Euro continued trading at the 1.1075 level against the Greenback.
The Bureau of Labor Statistics released the US Non-Farm Employment Change data, which came out better-than-expected of 266K compared with the forecast of 181K.
According to the official release: "Notable job gains occurred in health care and in professional and technical services. Employment rose in manufacturing, reflecting the return of workers from a strike."
Economic Calendar Analysis
EUR/USD hourly chart's review
On Monday, the EUR/USD reached the resistance of the 55 and 100-hour simple moving averages near 1.1080.Hourly Chart
On Monday, on the Swiss Foreign Exchange 69% of open EUR/USD position volume was in short positions.
Meanwhile, pending trade orders were neutral, as 50% of orders in the 100-pip range were to sell and 50% were to buy.