The jobs report helped the greenback close the day on Friday with gains. This was the first positive close after nearly five consecutive sessions of declines.
Economic data from the eurozone was sparse on Friday. As a result, the NFP was the major driver of flows in the EURUSD.
EUR/USD Loses the 1.1100 Handle
The currency pair’s rally to the 1.1100 price level hit a snag after the jobs report. As a result, the euro pared gains, turning lower on the day.
In the near term, price could retest the minor support level at 1.1072 which was breached. A successful retest of this level for resistance could push the euro lower. The next lower support is at the 1.1000 handle.
