The EURUSD had a down and up moment after the employment report as the market digests what the hourly earnings means. The good news is the jobs are being created. The bad news is they are not necessarily in the high paying jobs (at least from the wage information).
EURUSD heads lower
Looking at the hourly chart, the EURUSD has moved down to test the underside of the broken trend line on the hourly chart at the 1.1773 level (being broken now). A break of that will look toward the 1.1743 level (see post: The EURUSD positions between key resistance above/key resistance below ). The market is still digesting but continue to expect more volatility but overall the EURUSD is looking more vulnerable as jobs are being created here and not in the EU.
The price is breaking now with the 1.1743 level the next target.
