EUR/USD gets its comeuppance as Jobs data supports the outlook for the Dollar

It is fair to say that for several days now, the bent of updates here has been pointing to further downside in the EUR/USD since it dismally stalled above 1.12 several times. Well, as you can see now this afternoon, that directional call is still playing out, but of course it has been greatly assisted by the latest US jobs report. The fall below the 1.10 handle did not touch the sides folks and any residual buying orders that may have been in place around that level either got instantly pulled, or were simply swept away. It was noted here earlier this week, that there was little in the way of technical support below 1.10, until around 1.0925. Well, that level has shifted slightly and it is actually at 1.0929 right now- the 100 day moving average. The EUR/USD might find support at this level, but that is not certain. Besides, it has to get there first, which it has not done yet! The low seen so far is right now at 1.0959